site.btaUPDATED President Submits to Parliament Referendum Proposal

President Rumen Radev has submitted a proposal for a national referendum asking Bulgarians if they agree to have Bulgaria adopt the euro in 2026, said the Presidential Press Secretariat Monday. 

The proposal is pursuant to Article 10, Para 1 of the Direct Citizen Participation in Government and Local Self-Government Act.

The exact question is "Do you agree to have Bulgaria adopt the single European currency euro in 2026?. 

The head of State is quoted by the presidential press secretariat as saying in the referendum proposal: "As President, I am convinced that the introduction of the single European currency can and must take place with a strong national consensus - through the inner conviction of the people, not through dismissive disregard for their will. Every Bulgarian citizen has the right to express an opinion regarding their money and their well-being. The national currency - one of the symbols of statehood - is an inseparable and important part of national security and national sovereignty. According to Article 1, Paragraph 3 of the Constitution of the Republic of Bulgaria, no part of the people, no political party or other organization, state institution, or individual may usurp the exercise of the people’s sovereignty. Therefore, in the current situation - marked by a lack of sufficient clarity regarding readiness to adopt a new national currency, and a growing disconnect between public attitudes and the institutions - the will of the people, as sovereign, must be upheld. That will should be established through the holding of a national referendum."

The President’s proposal states that the referendum will be a test of the democratic nature of the 51st National Assembly, showing who upholds democratic principles and who denies Bulgarians the right to shape their own future.

"The referendum will serve as a corrective for Bulgarian democracy. It will give people a voice and allow all arguments to be heard. It will offer the political class a chance to restore dialogue with voters and to fight for their trust—a trust that has been lost in recent years," the President continues in his reasoning.

The document states that the referendum will bring thousands of voters back to the ballot box, noting that Bulgarian democracy is in critical need of "an influx of legitimacy".

Lastly, the proposal emphasizes that, regardless of its outcome, the referendum will contribute to building national consensus on euro adoption readiness and help prevent decisions made without majority support among Bulgarian citizens.

The proposal also notes that this type of referendum would not be unprecedented - other EU member states have already held similar referendums on adopting the euro. Several countries that joined the EU before Bulgaria and have significantly stronger economies continue to retain their national currencies until public consensus is reached, the proposal states.

According to the National Assembly’s press office, the proposal was officially submitted to Parliament’s registry at 3:08 pm.

Under Parliament's rules of procedure, the Parliament Chair distributes legislative and other proposals among the relevant committees based on their subject matter and holds monthly coordination meetings with committee chairs.

Two days ago, Speaker Nataliya Kiselova suggested that, once submitted, the proposal would likely fall under the jurisdiction of at least two committees - the Budget and Finance Committee, and the Committee on Constitutional and Legal Affairs.