site.btaBSP Pledges to Shield Citizens during Transition to the Euro

The National Council of the Bulgarian Socialist Party (BSP) said Saturday that BSP – United Left's participation in government would safeguard public welfare throughout Bulgaria’s planned switch to the single European currency.

Councillors met on Saturday to consider President Rumen Radev’s proposal for a referendum on EUR adoption in 2026. In a statement, the council acknowledged concerns among low-paid workers and pensioners over possible price rises.

BSP said that they “will not allow a new plundering of Bulgarian citizens through politically driven turmoil, uncontrolled price speculation and inconsistent financial policy.”

BSP promised to draft swift legislation, drawing on other euro-area examples, to curb speculative pricing, protect incomes and strengthen a competitive economy that delivers decent pay. The party recalled that Bulgaria applied to join the European Exchange Rate Mechanism in June 2018, entered it in June 2020 and joined the European banking union four months later, thereby committing to adopt the euro.

Adopting the single currency, the council noted, demands broad public and political backing. While a referendum is the highest form of direct democracy, the council argued that a meaningful vote requires calm debate and reliable information — conditions it says are lacking after prolonged political instability.

Local branches in Plovdiv (South Central Bulgaria), Varna (on the Black Sea), Dupnitsa (Western Bulgaria), Blagoevgrad (Western Bulgaria), and Kyustendil (Western Bulgaria) reported grassroots pressure for a popular vote. Aleksandar Tomov of Bulgarian Social Democracy – EuroLeft said the question would block eurozone entry; National Council member Aleksandar Simov urged an internal debate before fixing a common stance; Dupnitsa Mayor Parvan Dangov and MP Ivan Petkov called for clear party messaging and comprehensive public information.

The council concluded that any assessment of Bulgaria’s readiness must take account of the commitments made when entering ERM II and the banking union.