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Bulgarian President submits to parliament the proposal for a referendum on the euro

President Rumen Radev
Photo: BTA

Bulgarian President Rumen Radev submitted to the 51st National Assembly a proposal to hold a national referendum with the question "Do you agree that Bulgaria should introduce the single European currency "euro" in 2026?" The proposal is based on the Law on Direct Participation of Citizens in State Power and Local Self-Government, the presidency announced.

In his motivations, the president pointed out that the treaty on the accession of Bulgaria to the EU made a commitment, but did not specify an explicit deadline for the introduction of the euro.

"There is no consensus in Bulgarian society regarding our readiness to introduce the single European currency, nor the date on which this would happen. Sociological surveys clearly show that the majority of Bulgarian citizens are strongly reserved about changing the national currency at the present time," Radev said. 
He reminds that if the extraordinary convergence report on Bulgaria's readiness to enter the Eurozone, expected on June 4, is positive, Bulgaria will join the eurozone on January 1, 2026.

"The referendum will be a healing one for Bulgarian democracy. It will give the people a voice and allow all arguments to be heard. It will give the political class the opportunity to restore dialogue with voters and fight for their trust. Trust that it has lost in recent years," the head of state emphasizes in his motivations.


News editor:  Miglena Ivanova
English publication: Rositsa Petkova

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