Thousands protest in Bulgaria to maintain national currency

Euronews

2 days ago

Thousands of people took to the streets in Bulgaria on Saturday, calling on the government to preserve the country's currency, the Bulgarian lev, and not enter the euro area.
In the capital, Sofia, and various other cities, demonstrations against the introduction of the euro currency began at around noon. The protests were organised by the ultranationalist Revival Party and several NGOs.
They believe that if Bulgaria enters the eurozone, prices will rise and the country's economic sovereignty will be limited, and want a referendum to be held on the issue.
"Revival Bulgaria has a will of the people and the will of the people now says categorically: we do not want the Bulgarian lev to be destroyed, we want to preserve the Bulgarian currency, we want to preserve the freedom of Bulgaria. And that is why we want such a referendum to be held," said the leader of the Revival party Kostadin Kostadinov.
Bulgaria's President Rumen Radev recently submitted a request to parliament to hold a referendum on whether the country adopts the euro as its currency.
In 2024, the European Central Bank said the country couldn't join the currency union yet because inflation in the country was too high.
The seven non-eurozone members of the EU are Bulgaria, the Czech Republic, Denmark, Hungary, Poland, Romania, and Sweden. They continue to use their national currencies, although all but Denmark - which has won an opt-out clause - are obliged to join once they meet the euro convergence criteria.
Bulgaria has set a target to join the euro area as of 2026.
Lithuanian Defence Minister Dovilė Šakalienė has accused Russia of "mocking" the US government over the Kremlin's refusal to engage meaningfully in ceasefire talks. She warns that instead of being pressured into ending the war, the Kremlin is pushing forward with mobilizing 1.5 million students by the end of the year.
'In my opinion they already mocked the American government- they are showing disrespect to any effort to reach an agreement', she told Euronews.
Šakalienė also said Russia has not been put under pressure by the US obliging them to make concessions or cease its military campaign against Ukrainian civilians and civilian infrastructure.
"On the other hand why should they stop" [their attacks]. They have really transformed their economy to a war time economy. They are moving very fast with their armed forces reform. – to have 1.5 million soldiers by end of the year".
Minister Sakalienė was speaking to reporters during a NATO military exercise, this year's "Iron Wolf" [alluding to a creature from Lithuanian mythology], which included a simulated counter-offensive featuring German tanks and Lithuanian infantry fighting vehicles.
The exercise also included an air Assault Operation, including para-troopers drop-offs, as part of the US-led exercise "Swift Response'.
Six NATO allies were involved in the paratrooper exercise including the US, Germany, Italy, France, and the Netherlands.
The point of the exercise is to evaluate NATO's readiness to conduct military operations in the event of a invasion by Russia into NATO territory, in particular the Baltic countries, former Soviet republics.
Sakalienė believes there is no incentive for Russia to stop its campaign in Ukraine, as well as its "imperialistic" ambitions across Europe which the minister said is further strengthened by the Kremlin's collaboration with North Korea, Iran and China:
"Russia's military industry is really gaining speed. They are still moving forward in Ukraine. Why should they stop?'
The minister was responding to questions about the failed attempt at peace talks in Turkey when Putin refused to show up and sent a delegation headed by presidential aide Vladimir Medinsky to meet with the Ukrainian delegation.
Ukraine president Volodymr Zelenskyy went to Ankara to meet President Recep Tayyip Erdogan. He said he was willing to travel to Istanbul but only if Putin showed up.
'So currently what I see is basically a mocking game I don't think it's going to lead us anywhere', she said.
Sakalienė called the efforts to stop the war 'worthwhile' but, ultimately, the only way to end the war in Ukraine was through military means.
'I think the efforts by the US to stop this war are worthwhile. We'll see how that ends but in my opinion in the end what is going to be the only efficient means is regenerating the Ukrainian army and building military muscle in Europe. That's the only deterrent.'
NATO defence ministers will meet in Brussels next week, when the United Kingdom and Germany convene the Ukraine Defence Contact Group at NATO HQ.