Bulgaria: Pro-Russian Party submitted 590,000 Signatures for a Referendum against the Euro

The initiative committee, supported by the "Vazrazhdane" party, submitted 590,000 signatures to the Bulgaria parliament for a referendum on preserving the Bulgarian lev (BGN).

According to the law on referendums, if an initiative committee collects 400,000 signatures, the holding of the poll becomes mandatory. Signatures verification is pending. It is questionable whether this referendum is even admissible, since the topic is part of an international treaty that Bulgaria has signed.

According to the legal text, a referendum on issues regulated in international treaties concluded by the Republic of Bulgaria can be held before their ratification

"What we will achieve is that there will be a referendum in the fall together with the local elections, in which the Bulgarian citizens will say, for the first time, they will be asked whether they want the Bulgarian lev to be preserved or destroyed," commented the leader of "Vazrazhdane" (Revival) Kostadin Kostadinov.

He added that these 590 thousand signatures are on a total of 37 thousand pages. The poll question is "Do you agree that the Bulgarian lev should be the only official currency in Bulgaria until 2043?".

The initiative committee submitted the signature before the deadline, which is Monday, April 10.

"Entering the Eurozone is a trap from which there is no way out. The destruction of the Bulgarian lev will lead to the destruction of the savings of Bulgarian citizens, devaluation of incomes and will liquidate Bulgaria's financial independence," he pointed out.

And added:

"We want Bulgaria to be an independent country, to renegotiate the conditions for membership in the EU, to preserve the Bulgarian lev, to close the American bases in our country. We want normal relations with Russia and the lifting of anti-Russian sanctions. It is high time that we, the Bulgarians, decide".

However, none of the statements of "Vazrazhdane" against the euro are factually true. Entering the Eurozone is not a trap, but an obligation of Bulgaria according to the treaty of accession to the European Union. This applies to all member countries, only Denmark does not have such an obligation. The euro and the eurozone will not destroy the savings of Bulgarian citizens, nor will they devalue their incomes. All the studies carried out so far - those of Eurostat, the Bulgarian Academy of Science and the Faculty of Economics at Sofia University show that none of the newly joined members of the Eurozone has experienced a sharp increase in inflation, in most cases it ranges from 0.3 to 1% above normal inflation for the period and cycle. On the contrary, deflation is observed in a number of member countries in the long term. And finally - with the entry into the Eurozone, Bulgaria will not give up its independent financial policy, quite the opposite. It will now have the right to vote at the ECB's monetary decision-making table in Frankfurt. At the moment, in the conditions of a currency board, the policy of the ECB has almost a direct transmission to Bulgaria without Sofia having any right to vote. We remind you that currently the Bulgarian National Bank does not have the right to its own monetary policy.

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