By Isidoros Karderinis
SOFIA, Bulgaria – On Sunday, June 8, 2025, protesters gathered in front of the country’s National Bank, amid a heavy police presence, to protest the planned introduction of the euro on January 1, 2026.
The demonstration was once again organized by the political party “Vazrazdane”, while demonstrations were also held in other cities in Bulgaria. “Vazrazdane” President Konstantin Kostadinov sent a letter to all European Union prime ministers calling for Bulgaria to be excluded from the eurozone.
Konstantin Kostadinov stressed in his statements: “Our struggle is in the name of democracy, our rights and our most important right, the right to vote.”
Kostadinov also recalled that in Italy there were not one, but five referendums on the euro with a request signed by less than 1% of citizens, while in Bulgaria with 10% of those willing, a referendum is not allowed.
The participants in the demonstration categorically stated that they want to keep the Bulgarian lev as the national currency and shouted their demand for a referendum on this crucial issue of long-term importance for the country.
“We want to keep the Bulgarian lev because it is our national currency. If there is no lev, there will be no Bulgaria,” the protesters commented emphatically.
The thousands of protesters expressed particularly their concern that the transition to the euro would lead to higher prices, a deterioration in living standards, a loss of the country’s economic and financial sovereignty, and dependence on external powers.
Isidoros Karderinis was born in Athens. He is a journalist, foreign press correspondent accredited to the Greek Ministry of Foreign Affairs, as well as an economist, novelist and poet. His articles and reports have been published in newspapers, magazines and websites in 130 countries. Facebook: Karderinis Isidoros.
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The Bulgarian people’s resistance to adopting the euro is entirely justified. Surrendering their national currency means losing the economic flexibility that comes with monetary sovereignty—something Australia still retains and must never relinquish. Once Bulgaria joins the eurozone, it will no longer control its interest rates, exchange rate, or money supply. Instead, the European Central Bank—primarily serving the interests of stronger economies like Germany—will make those decisions.
We’ve seen how eurozone nations like Greece, Italy, and Spain were left powerless during economic crises. Without the ability to issue their own currency, these countries faced austerity and social upheaval while trying to balance budgets under EU rules that treat governments like households. It’s a neoliberal straightjacket.
Bulgaria should instead focus on using its sovereign currency to invest in jobs, healthcare, infrastructure, and climate resilience, just as nations like Australia could do if governments fully embraced our monetary sovereignty.
This is more than economics—it’s about democracy and national self-determination.
Do you believe currency sovereignty is worth protecting?
Denis Hay, well put.
The EU is a great idea in principle, but it has become a fortress for neoliberal ideology.
One of the justifications for the EU’s existence was the prevention of wars in Europe, and it has been successful at that.
But the blind ideology of liberal economics will tear Europe apart, and the wars will begin once more.