Bulgaria braces for switch to euro amid political crisis

Bulgaria finds itself at a crossroads, as the country prepares to adopt the euro, in the middle of a political crisis, with public opinion sharply divided between hope for easier integration with Europe and fears of losing a piece of its national identity.

In the streets and shops of Sofia, the transition is already visible. Prices for everyday goods from fruit in supermarkets to bottles of wine, are displayed in both the Bulgarian lev and the euro.

For some, this change represents convenience and progress, such as Veselina Apostovlova, a pensioner from Sofia, who said she was happy the euro could be used in the whole of the EU. "Not only older people but also all young people can easily travel using euros instead of having to exchange currency," she said.

This sentiment is echoed in the business community, where Natalia Gadjeva, owner of the Dragomir Estate Winery, sees the single currency as a practical step forward.

"This would ease the business for a large part of the enterprises operating in Bulgaria," she said, saying the benefit of eliminating currency conversions and streamlining trade would make operating in the euro zone so much easier for her.

However, the move has also sparked fierce opposition. Protesters have taken to the streets, waving Bulgarian flags and holding signs with the euro symbol crossed out and messages such as: "What do we need the euro for if we lose Bulgaria?"

For opponents like pensioner Emil Ivanov, the issue is deeply personal: "I am against it, first because the lev is our national currency," he said. "Secondly, Europe is heading towards demise, which even the American president (Donald Trump) mentioned in the new national security strategy.

Experts point to practical challenges fueling some of the resistance. Dimitar Markov, Director of the Law Program at the Center for the Study of Democracy, said the transition period is particularly confusing, especially for the elderly.

"They have difficulties in calculating the prices," Markov explained. "Now we are in this transition period where all the prices are listed on the labels in both lev and euro, and for older people, for example, it is difficult for them to understand which one is which." He also criticized the "weak" awareness campaign, noting that people living in remote areas may not be prepared for the change, and are vulnerable to misinformation.

Bulgaria has been trying for years to join the common currency but its accession date has been pushed back in part because it fell short on some vital criteria, particularly inflation.

This time it just met the inflation criterion as the 12-month reading was at 2.7% in April, just below the 2.8% reference value.

Production: Fedja Grulovic, Anna Lubowicka, Stoyan Nenov/Reuters