Navigating Integration, Euroscepticism, and Uneven Development

The European Union has approved Bulgaria's entry into the Eurozone, with a target date of January 1, 2026. This decision follows Bulgaria's recent full membership in the Schengen area, which allows for free movement across borders.

Despite these advancements in European integration, skepticism towards the euro persists within Bulgaria. Public sentiment and political discourse reflect this resistance. Protests against adopting the euro have occurred in Sofia and other towns. Polls indicate significant opposition, with a substantial percentage of Bulgarians against the switch.

Anti-euro sentiment is often linked to Bulgarian nationalist parties. One such party, Vazrazhdane, has gained considerable popularity in recent elections. Bulgaria's entry into the EU in 2007 was met with high expectations, with hopes for rapid economic development and a rise in living standards.

The EU has invested billions of euros in Bulgaria, primarily for infrastructure. However, the benefits of this investment have not been evenly distributed. While Sofia has received a significant portion, smaller municipalities and rural communities have seen less impact.

The anticipated "European" standard of living has not yet reached these areas, and Europe still feels distant for many. While EU membership has provided opportunities for Bulgarians to work and live abroad, this has also led to a brain drain and a decline in the country's population.

The analyst suggests that many Bulgarian parents hope their children will return to work in Bulgaria, as jobs abroad often do not require high-skilled workers. Accession to the Eurozone is expected to benefit those in Sofia who conduct business abroad more than older residents in smaller municipalities or rural areas.

Despite the euroscepticism, support for EU membership has been increasing. European integration is a unifying factor for Bulgaria's coalition government, even though not all parties agree on joining the Eurozone. The government's survival, amidst political instability, is partly due to this shared commitment to Europe.

The Bulgarian government must carefully manage the potential for eurosceptic movements to grow, given the mixed results of European integration and the significant opposition to the euro.