'A Mistake': Former Deputy PM Disagrees with Radev's Call for a Euro Referendum in Bulgaria

Former Deputy Prime Minister Atanas Pekanov has openly criticized President Rumen Radev’s decision to support a referendum on Bulgaria’s adoption of the euro, describing it as a political misstep likely prompted by misguided advice. Speaking in a televised interview on BNT, Pekanov said he had not personally discussed the matter with the president but firmly believes the decision was incorrect.

“It’s probable that someone from the president’s circle advised him this was the right thing to do. In my view, it’s a mistake,” said Pekanov. He stressed that a decision taken now could lead to long-term consequences that might be difficult, if not impossible, to reverse later.

According to Pekanov, President Radev is positioning himself as a representative of those who harbor uncertainties about the euro accession process - citizens who are not anti-European but remain uneasy. Pekanov described this demographic as the “second group” among Bulgarians, distinguishing them from the more vocally supportive pro-euro camp and a third, smaller but louder faction that warns of catastrophic outcomes.

“There are three kinds of people when it comes to the euro,” he explained. “First, those who clearly support it. Then, those with concerns - maybe lacking clarity but not opposed to Europe. I think it’s their voice Radev is echoing. And finally, there’s the noisy minority spreading fear and talking of an apocalypse.”

Pekanov acknowledged that the president’s approach could be viewed as a calculated political gesture aimed at connecting with the second group. “I understand it as a political move, but I do not agree with it,” he said. “The people close to the president likely played a role in shaping this stance.”

He also pointed to the results of recent elections as proof that the majority of Bulgarians back euro adoption. “We’ve elected parties that support our entry into the eurozone. That speaks volumes,” Pekanov noted.

Reaffirming his long-standing support for joining the euro area, Pekanov emphasized that all caretaker governments he had been part of worked consistently toward meeting the entry requirements. He added that it was the Bulgarian Parliament that had always set the goal of joining “as soon as possible.”

Addressing the uncertainty expressed by some, Pekanov cautioned against allowing fear to stall progress. “There is a quiet majority that hesitates, wondering if we are ready,” he said. “But now is the moment. We’ve met the criteria. If we start second-guessing ourselves, if we delay for more debate, we might end up waiting five or ten more years.”

Interestingly, Pekanov argued that the strongest case for adopting the euro actually comes from those who oppose it. “Their arguments,” he stated bluntly, “are completely baseless. That, in itself, is one of the best reasons to move forward.”