First Reactions of Bulgarian MEPs after Bulgaria's Accession to the Euro Area

First reactions from Bulgarian MEPs following the decision for Bulgaria to join the Eurozone:

Radan Kanev (European People’s Party) stated:“This is a natural development. Bulgaria meets the criteria. All the talk about being forcibly pushed into the Eurozone or this being a geopolitical decision is political propaganda and nonsense. The Council voted unanimously today—Bulgaria has done its job.”

He also emphasised that foreign investment in Bulgaria's economy is expected to accelerate significantly.

Tsvetelina Penkova (Progressive Alliance of Socialists and Democrats) added:

“We cannot frame this as a political victory; we were united in supporting Bulgaria’s full European integration through Eurozone membership. This step will bring stability, expand market opportunities, and boost economic growth. It will create favourable conditions for investment in Bulgaria.”

She noted that the euro is the strongest and most liquid currency in the world, surpassing the U.S. dollar in terms of trust.

The main argument for voting against Bulgaria’s accession to the Eurozone was that the will of the majority of Bulgarian citizens was ignored — citizens who wanted the accession to be postponed and a referendum to be held. This was stated by MEP Petar Volgin.

"Since this right was not respected, my colleagues and I from Vazrazhdane considered it much more appropriate that this issue should not be addressed and that Bulgaria should not be admitted until the people are given the opportunity to express their opinion."

Volgin warned of a threat to democracy, saying:

“When you ignore the will of the people, you disrespect democratic principles. A self-appointed group of experts and government officials are deciding what happens and when. In a true democracy, the government should listen to the people. That’s what we aim to do in the European Parliament—give a voice to those who, unfortunately, are denied one in Bulgaria.”

According to him, over the past year, EU leaders have been able to get away with “the most foolish actions” simply by blaming Putin for them.