'Strategic Mistake': President Radev Warns Bulgaria’s Eurozone Entry Lacks Consensus and Risks Long-Term Damage

Politics | July 11, 2025, Friday // 14:09
Bulgaria: 'Strategic Mistake': President Radev Warns Bulgaria’s Eurozone Entry Lacks Consensus and Risks Long-Term Damage

Bulgarian President Rumen Radev has accused government officials and commentators of spreading "brazen lies" about the controversial gas contract with Turkey’s state-owned company Botas. Speaking during a visit to the 24th Air Base in Krumovo, Radev stated that despite repeated claims the deal is not being used, significant volumes of gas are being imported through it this year. He dismissed assertions that only capacity fees are being paid as completely false and questioned who benefits from such narratives.

Radev welcomed the ongoing investigation into the contract launched by Bulgaria’s Anti-Corruption Commission, but urged that it be expanded to include a review of lost profits. “Why isn’t the contract being used to its full capacity? Why aren’t we selling gas to other countries through it? And why are we still importing Russian gas via intermediaries while some officials claim to be fighting the Kremlin every day?” he asked.

He criticized the government for undermining regional gas cooperation, recalling that just ten days after Bulgargaz and Hungary’s MVM signed a memorandum of understanding in front of him and Hungarian Prime Minister Viktor Orban, the Bulgarian parliament passed an energy tax. This measure, Radev said, discouraged both Hungarian and Serbian partners from proceeding with plans to use the pipeline. He added that Turkey, despite the controversy, remains open to improving conditions under the agreement. “President Erdogan recently told me they’re ready to offer better terms, but that would require political will on our side,Radev said.

Turning to the eurozone, Radev cast doubt on the government's readiness for Bulgaria’s planned entry on January 1, 2026. He described the recent approval from the EU as being met not with public consultation but with political grandstanding. “The airwaves have been filled with fanfare about who should take credit for getting us in. Yet no one is celebrating with the people on the streets - they’re just bragging from the podiums,” he said.

According to Radev, this rush to celebrate masks deeper problems. He accused those in power of using the eurozone as a political shield to deflect from the fiscal deficit and rising prices. “There’s a hole in the budget, prices are out of control, and now Borissov and Peevski are using the euro as a badge to cement their grip on power,” he said. Radev also condemned the WCC-DB for supporting the government while it “pressures and neutralizes” mayors from their own ranks.

The president called Bulgaria’s eurozone accession a “strategic mistake with long-term consequences” taken without national consensus. He said the real sabotage of the euro was not coming from abroad, but from the government’s failure to implement effective price controls and outline a vision for aligning the economy with eurozone standards.

Asked if the investigations into Bulgargaz, Bulgartransgaz, and the Energy Ministry were a form of political attack against him, Radev responded affirmatively. He argued the scrutiny has political motives and aims to deflect from the government’s own missteps. “They claim the contract isn’t being used - yet gas is flowing through it. They don’t use it to sell abroad or renegotiate the terms. Instead, they stir up hysteria and baselessly accuse the Turkish side of corruption,” he said.

Radev concluded by reaffirming that Turkey is a reliable partner willing to improve the agreement, but lamented that the Bulgarian government lacks the political will and competence to act in the national interest.

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Tags: Radev, president, Botas, Bulgaria, euro

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