The Bulgarian President’s New Year Address: Euro Entry Marks Historic Step but Exposes Deep Rift

President Rumen Radev described Bulgaria’s decision to adopt the euro as a strategic move taken at a highly contentious moment, speaking in his New Year’s address shortly before the country entered 2026. According to the head of state, the change of currency marks the final stage of Bulgaria’s integration into the European Union, a place he said the country has earned through its long history, culture and civilizational contribution. At the same time, Radev stressed that such a step should have been preceded by a referendum, arguing that the refusal to consult citizens deepened an already serious divide between the political elite and society.

Radev said this disconnect was clearly exposed by the mass protests seen across the country. In his words, the demonstrations “punished the arrogance of the rulers” and reflected accumulated anger over corruption, inflation, institutional arbitrariness and what he described as an unfair political and economic model. He pointed out that the first state budget drafted in euros became a trigger that brought long-standing dissatisfaction to the surface rather than easing tensions.

Further reading: More Than a Budget Crisis: Bulgaria's Gen-Z Demands a Political Reckoning

The president highlighted the protests as the most significant political development of 2025. He noted that young Bulgarians were no longer focused solely on personal survival or emigration, but were instead asking how they could contribute to the future of the country. At the same time, people who had lived through the transition years also returned to the streets. According to Radev, this led to the emergence of a broad public consensus against entrenched corruption and informal power structures. Attempts to divide this movement along generational or ideological lines, he said, were unsuccessful. “People demanded democracy, justice, fair elections, objective media, a real European perspective and a dignified life,” he stated.

Looking ahead, Radev reminded citizens that parliamentary elections are approaching, followed later in the year by a presidential vote. He called on society not to repeat past mistakes or waste the civic energy that had emerged from the protests. “It is up to us to stop going around in circles,” he said, expressing confidence that Bulgaria has the capacity to restore democratic standards and move forward.

In the international context, the president described the past year as dramatic, marked by wars that claimed thousands of lives. He said that, for the first time, there were signs of possible de-escalation, and urged Bulgaria to clearly support efforts toward peace in Ukraine. At the same time, he warned that the risk of wider escalation remains and stressed that the country should not rely on others to defend its interests if it is unable to do so itself.

Radev concluded his address with a message focused on unity and everyday responsibility, saying Bulgarians should prove their worth not only through major achievements, but also through daily actions and human solidarity. He wished citizens health, peace and prosperity, emphasizing that family and friends remain a source of stability in uncertain times.

Alongside the president’s speech, Bulgaria’s entry into the eurozone was a central theme in New Year messages from political leaders across the spectrum. National Assembly Speaker Raya Nazaryan described 2026 as a turning point and expressed hope that the new phase would bring stability, higher standards of living and economic confidence. Outgoing Prime Minister Rosen Zhelyazkov also framed eurozone membership as a strategic step that would provide greater security, financial stability and new opportunities for both citizens and businesses.

GERB leader Boyko Borissov called the euro adoption a civilizational choice rather than a simple currency change, arguing that it forced the political class to choose between state responsibility and short-term populism. WCC-DB co-chair Asen Vassilev defined January 1, 2026 as the beginning of a new era, saying Bulgarians now live, work, travel and do business as equal citizens within the world’s wealthiest economic union.

DPS-New Beginning leader Delyan Peevski appealed for unity, warning against division and hatred that could undermine democratic order and statehood. Revival leader Kostadin Kostadinov took a more critical tone, writing that Bulgarians must take their fate into their own hands, rebuild the state and restore trust in institutions through a new social contract. BSP leader Atanas Zafirov said he hoped 2026 would be a year of renewed stability and prosperity, adding that “the Bulgarian euro is not just a currency, but part of a conscious civilizational choice.”

Slavi Trifonov of There Is Such a People welcomed the eurozone entry as a guarantee for the financial system and an opportunity to turn Bulgaria into a globally attractive tourist destination. Radostin Vassilev from MECH called for decisive action to restore national dignity, while Greatness party leader Ivelin Mihaylov urged citizens to use their free will responsibly in upcoming elections, emphasizing that the country’s future depends on the choices Bulgarians make themselves.