Bulgaria's President in a CNN Interview: Defends the Euro Referendum and Supports Trump’s Peace Efforts

During an interview with CNN’s Richard Quest, President Rumen Radev defended his call for a national referendum on Bulgaria’s planned adoption of the euro in 2026. Speaking after the opening of the Tashkent International Investment Forum, Radev stated that while some leaders place their trust in technocratic governance or the strength of economic forces, he believes firmly in the power of democratic choice. “It may sound old-fashioned,” he said, “but I am convinced that without democracy, any social structure is doomed.” He argued that a referendum is not only necessary but vital to ensure that Bulgarians themselves decide whether the country is ready to join the eurozone.

Radev insisted that differing views between the presidential institution and the government regarding eurozone entry would not lead to a constitutional crisis. However, he warned that proceeding without broad public support could weaken the social contract between citizens and the state. He noted that Bulgaria has held seven parliamentary elections in the past four years - an indication of political instability and declining public trust. A referendum, he suggested, could help restore legitimacy and confidence in the institutions, just as it has done in other countries.

He emphasized that the European Commission and European Central Bank’s recent positive assessments of Bulgaria are the result of a conservative financial policy pursued over many years, one that demanded sacrifices from Bulgarian citizens. While long-term benefits of euro adoption are expected, he believes that the current debate is not about abandoning the country’s European path, but rather about whether Bulgaria is fully prepared to make the switch to the euro in 2026.

Radev dismissed suggestions that the moment for a referendum had passed, pointing out the rapidly evolving nature of both European and global affairs. As an example, he cited Brexit, noting that such developments underscore the need for active public involvement in critical national decisions. He also mentioned that 18 out of 27 EU member states had previously held referendums before committing to EU membership and the euro, arguing that Bulgaria deserves the same opportunity.

Turning to the geopolitical situation, Radev addressed the EU’s latest sanctions against Russia, saying it is crucial to evaluate their effectiveness and impact. He argued that the main beneficiary of these sanctions is China, which has gained access to cheap Russian energy and military technology. The withdrawal of European businesses from the Russian market, he said, has paved the way for Chinese companies to deepen their presence there, further strengthening ties between Moscow and Beijing.

On the war in Ukraine, the Bulgarian president described the world as facing a grave political and moral crossroads. He referred to the conflict as one of attrition, where territory is being contested inch by inch, and where the decisive factor is not just weapons but manpower. Radev expressed concern that Ukraine might soon face a shortage of soldiers to continue the fight. At the same time, he questioned whether Russia would ever willingly return Crimea or other occupied territories. This, he said, leaves the world with two grim options - either accepting territorial conquest as a norm in the 21st century or entering into a direct military confrontation with Russia, a move that could spiral into a global, possibly nuclear, war.

In this context, Radev voiced strong support for the peace efforts of the current U.S. administration under President Trump. He praised Trump as a pragmatic leader who seeks to avoid the destruction of war and criticized the lack of backing he receives from some European leaders. According to Radev, diplomacy remains an underutilized tool in this conflict and should be prioritized alongside military and economic measures.

He concluded that the war in Ukraine is not only a direct threat to security and stability, but also a test of Europe’s critical thinking and strategic foresight. The conflict has exposed the difficulty of formulating clear political goals and aligning them with practical strategies. Finally, when asked to comment on internal U.S. affairs, Radev declined, saying Bulgaria has its own pressing issues to address. “America’s problems are like an ocean,” he said. “Ours are more like the Black Sea. But we expect the U.S. to remain a pillar of stability and democracy.”