Brussels Refuses to Comment on Bulgaria's Euro Referendum as Convergence Report Progresses

The European Commission has refrained from commenting on President Rumen Radev's call for a referendum on Bulgaria's entry into the eurozone, stating that such initiatives fall under the jurisdiction of national authorities, Club Z reports.

In response to a query by Club Z, the Commission emphasized that its current focus remains on completing the convergence report for Bulgaria, expected to be ready in early June. The report was requested by Sofia in February, with the objective of securing euro adoption in 2026.

EC services are presently evaluating Bulgaria’s compliance with the criteria outlined in the Treaty on the Functioning of the European Union (TFEU). According to the 2024 convergence report, Bulgaria met three of the four requirements for joining the eurozone — public finance stability, exchange rate stability, and long-term interest rates. The country did not meet the price stability criterion at that time.

However, as of the beginning of 2025, Bulgaria has reportedly achieved the necessary price stability threshold. This progress prompted the request for the extraordinary convergence report, which is now in the process of being drafted.

Source: Club Z