More Rallies Held in Defence of the Lev Across Bulgaria

UPDATED More Rallies Held in Defence of the Lev Across Bulgaria

Marin Kolev, Diana Dukovska

Protesters gather to defend the Bulgarian lev in front of the Parliament building in central Sofia, July 5, 2025 (BTA Photo/Nikola Uzunov)

Sofia,

05.07.2025 19:44 | UPDATED 05.07.2025 21:26

(BTA)

More protests in defence of the Bulgarian lev were held on Saturday ahead of the final decision on Bulgaria's eurozone membership. On July 8, the Economic and Financial Affairs Council (ECOFIN) is expected to adopt the final legislative acts paving the way for Bulgaria to join the euro area from January 1, 2026.

Protesters blocked traffic in Sofia's central square between the buildings of the President's Administration and the National Assembly. After marching through the city centre, they returned to their starting point. The rally was organized by the Awakeners civic initiative.

The demonstrators called for the lev to be retained, for a referendum on adopting the euro, and the government's resignation. There was an increased police presence in the area. The organizers called on people to join the next protest on July 8.

Protests calling for the government's resignation and opposing the adoption of the euro were held in Varna, Yambol, Veliko Tarnovo, Pleven, Haskovo and Ruse. The Vazrazhdane party was the main organizer.

Protesters in Varna (on the Black Sea), who gathered for the sixth week in a row, claimed that adopting the euro would worsen Bulgarians' living standards and lead to the loss of the country's economic and financial sovereignty.

In the southeastern town of Yambol, Nikola Dimitrov MP of Vazrazhdane told BTA the party is in favour of preserving the currency board arrangement, introduced in 1997: "We believe that the fixed exchange rate between the lev and the euro is important for ensuring the lev's stability. During major global crises, countries with a currency board recover more easily. (...) If the euro becomes unstable, we will have the unique opportunity to peg the lev to another currency we choose." The MP said that linking the lev to a foreign currency is not a form of dependence, but rather the freedom to align with the strongest one available.

In Veliko Tarnovo (North Central Bulgaria), Angel Yanchev MP of Vazrazhdane said the party demands a referendum to postpone the adoption of the euro, and the government's resignation. "A currency's strength lies in being trusted, desired and in demand. In Bulgaria, the euro is being introduced unlawfully, without a referendum and by manipulating economic indicators," he said.

/DD/