The year 2026 means a world-historical change for , as it becomes the 21st country to join , deepening its integration into the European Union. This prospect, however, has not solved the problem of political liquidity prevailing in the country, with seven early elections held since 2021, while the common people fear the revaluation of goods.
Inflation rose again to 3.7%, following a drop to 2.7% in early 2025, which was needed to comply with European rules. There is, moreover, concern that speculation by commercial interests that will take advantage of the currency change will add to this negative factor. Critics of the euro also point to a possible erosion of the country’s national sovereignty.
Eurobarometer polls from November 2025 show a divided society, as only 42% of respondents supported joining the Euro. However, the demonstrations against the euro, organized in May and September by the Eurosceptic party “Vazrazhdane” (“Renaissance”) did not have much impact, while the anti-corruption protest rallies, which also attracted a young pro-European audience, were much larger.
In any case, the transition to the euro has geopolitical momentum, as it is seen as the biggest change to take place in the country since the collapse of the socialist regime in 1989, a definitive disengagement from the Soviet past and away from the influence of Russia and other Eurasian powers, while also expected to attract significant investment to the country.
The idea that Bulgaria, which currently has the lowest GDP in the EU, will be in the tight core of developed Eurozone countries creates a good psychological climate for long-term investor interest. After all, Bulgaria’s GDP per capita has risen from 40% of the European average in 2007 to 66% in 2024.
The shadow of the government’s resignation
However, a negative message was sent by the recent resignation of the government of Rosen Zhelyaskov after intense popular demonstrations against government corruption, in which more than 100,000 people from different political parties participated, both anti-Western, who criticized the pro-European government coalition, and pro-Western, who protested against corruption, wishing convergence with the acquis of the European rule of law. Popular discontent erupted over a budget proposal that included tax increases, but protests continued even after it was withdrawn.
Generation “Z” (born after 1995) made its presence felt in the demonstrations, just like in neighboring Serbia and North Macedonia. It should be noted that President Rumen Radev, a former commander of the air force, is comparatively registered with the Eurosceptic forces, having expressed concerns about the country’s integration into the Eurozone.
By contrast, the governing coalition led by the center-right party GERB (which stands for “Citizens for the European Development of Bulgaria”, and as a word means “coat of arms”), which resigned on December 11, had supported Bulgaria’s path to the Eurozone, also comprising the “Socialist Party” and the populist party ITN (“There Is Such a People”), which takes its name from eponymous song by its founder and singer Slavi Trifonov.
To be sure, the fall of the government was not directly related to the adoption of the euro, but it was caused by allegations of corruption and protests over the budget, including a disproportionately large portion directed at the security forces, fueling accusations of establishmentism.
However, the “timing” was unfortunate and gave a handle to the creation of a more comprehensive narrative by Eurosceptic political forces, which “put in the same basket” disparate phenomena, such as inflation, but also accuracy in energy and the effects of government corruption. On the other hand, supporters of the euro emphasize that joining Europe will lower borrowing costs, as well as contributing to a long-term taming of inflation.
“Bet that patriotism coexists with the European orientation”
Teodora Dimova, author awarded with the French Fragonard Prize (2022) for her novel The Losers [Les dévastés, Éditions des Syrtes, Παρίσι, 2022]which describes the consequences of the imposition of communism on the Bulgarian middle class, spoke to Vima about the attitude of Bulgarian society.
“The entry into the Eurozone will consolidate the European orientation of the country, but the stake is to win the hearts of ordinary people as well” emphasizes Teodora Dimova:
“There have been political campaigns both for and against the euro in the last year. The profile of the critics of the euro is mainly nationalist or “patriotic”, as they like to define themselves, and is driven by a desire to preserve the Bulgarian Lev currency for reasons of national pride. These are the pro-Russian forces of the Bulgarian society, who wish for Bulgaria to be under Russian influence, while they may even be nostalgic for the era of Soviet influence. The most important pro-Russian party has been given the name “renaissance” or “revival” (Vazrazhdane), meaning a national “Bulgarian revival”. Its president is Kostandin Kostandinov with studies in ethnography and folklore. On the other hand, the bet for the pro-Western intellectual world is to project a different form of patriotism, which will be able to coexist with the European orientation. The issue of Ukrainian refugees in Bulgaria is crucial. From 2022 onwards, they have arrived in many Bulgarian cities, especially the seaside ones, assimilated into the Bulgarian society and passed on their experiences. These osmosis were very important for a change in the diffusion of Russian influence in the country. Entry into the Eurozone is expected to consolidate Bulgaria’s European orientation, but the stake is to win the hearts of ordinary people as well.”
