Bulgaria's Battle for the Lev: A Last Stand Against the Euro
Bulgaria is on the verge of joining the eurozone as its 21st member, but opposition is fierce. Thousands protested in Sofia against adopting the euro, seeking a referendum to preserve the national currency, the lev. Critics fear economic instability and claim loss of monetary sovereignty.
- Country:
- Bulgaria
In the heart of Bulgaria, thousands gathered to oppose the country's imminent adoption of the euro. Protests flooded Sofia as citizens demanded a referendum to maintain the Bulgarian lev, worried about economic instability and loss of financial control.
The demonstration organized by civic groups and nationalist parties featured a prominent message: 'The battle for the Bulgarian lev is the last battle for Bulgaria.' Pro-Russian Vazrazhdane party leader Kostadin Kostadinov characterized the euro adoption as a betrayal of national sovereignty.
Though Bulgaria is set to join the eurozone on January 1, 2026, the decision has sparked debate. Economists, however, argue that Bulgaria's pegged currency, 1 lev to 51 eurocents, minimizes economic impact. The ongoing protest reflects broader euroscepticism amid Bulgaria's political instability and corruption challenges.
(With inputs from agencies.)
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- Bulgaria
- eurozone
- protests
- Sofia
- lev
- economy
- nationalism
- euroscepticism
- currency
- EU
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