Bulgaria is celebrating its second success this year. On January 1, the country fully joined the Schengen Area, and in a year, on January 1, 2026, it will most likely be able to join the eurozone.
However, this step has mighty opponents in Bulgaria: pro-Russian forces, including President Rumen Radev, are trying to block it until the very end.
The economic boost that Bulgaria’s entry into the eurozone will provide could entirely change the electoral landscape and go against the interests of “friends of Russia.” This would significantly weaken Moscow’s soft power in the region.
The idea of deepening European integration has become the factor that has united most Bulgarian parties, including traditional ideological rivals.
In particular, the opposition Euro-Atlantic party “Continuing Change – Democratic Bulgaria” promised to postpone its opposition activities until July 9, when the European Parliament and the EU Council will vote on Bulgaria’s accession to the eurozone.
So, in a month’s time, when Bulgaria’s path to the eurozone becomes irreversible, the fragile unity of the coalition of Bulgarian parties may crack. This would give Russia-friendly forces a chance for revenge.
For now, the pro-EU parties prefer to act in a way that does not jeopardize Sofia’s European integration success.
Opponents of joining the eurozone are exclusively pro-Russian parties, which are betting on “preserving the Bulgarian lev.” Joining the eurozone could significantly change the electoral landscape to their disadvantage.
First, pro-Russian forces organized a forum on 16 May called “The Battle for the Lev—Bulgaria’s Last Battle,” where pro-Russian politicians tried to convince their audience of the inevitable dire consequences of switching to the euro (price increases, inflation, poverty).
Then, on May 31, mass protests took place, gathering about 100,000 protesters (three times less than the number of voters for Revival, Bulgaria’s key pro-Russian party).
On June 4, Revival MPs tried to disrupt a parliamentary session and even started a fight.
In the context of failed rallies and propaganda efforts by pro-Russian forces, as well as the practical irreversibility of joining the eurozone, Bulgaria is currently experiencing a period of anti-Russian sentiment.
So, although the political crisis in Bulgaria will continue, Bulgarian politicians have proven that they can set aside differences when an important development for the country is at stake.
According to a report published on June 4 by the European Central Bank and the European Commission, Bulgaria meets all the requirements regarding the country’s economic and fiscal situation for joining the eurozone as early as the beginning of next year.
Now, Bulgarians are just waiting for the EU Council, the European Parliament, and the EU Council for Economic and Financial Affairs (Ecofin) to make their decision. They’re expecting their answers by the end of July, and so far, there’s an expectation they’ll be positive.
