As Bulgaria prepares to adopt the euro next year, false and misleading claims about the move are spreading rapidly, fueled by pro-Russian actors. Will Bulgaria’s Euro Adoption Pose a Risk to Citizens’ Savings?
As Bulgaria prepares to adopt the euro next year, false and misleading claims about the move are spreading both on social media and in legacy media. In many cases they are pushed by pro-Russian actors.
Bulgaria is a country located in Southeastern Europe.
It borders Romania to the north, Serbia and North Macedonia to the west, Greece and Turkey to the south.
The capital city is 'Sofia' , which is also the largest city.
Bulgaria has a diverse geography, with mountains covering over 25% of its territory.
The Black Sea coastline stretches for approximately 354 kilometers.
The official language is 'Bulgarian'.
The EU’s Position on Bulgaria’s Adoption of the Euro
Bulgaria is expected to join the eurozone at the beginning of 2026. The country’s ruling coalition said adopting the euro is a top priority that, ideally, will become a reality at the start of 2026.
False Narratives Surrounding Bulgaria’s Euro Adoption
Pro-Russian parties and popular pro-Kremlin actors have been actively — and in some cases aggressively — campaigning against the move.
Claim: The EU Will ‘Steal’ People’s Money
Rada Laykova, a European Parliament member from Vazrazhdane, suggested that people’s savings and pension funds could be used for military projects.
DW Fact check found this claim to be false. Rada Laykova stated that there will be a deadline by which you need to have spent your money, after which the European Commission will steal it from people. However, people’s savings are protected in the EU, and there are regulations in place that can compensate people in case of bank failure.
Claim: Bulgarians Will Lose Most of Their Savings
Kostadin Kostadinov, the leader of pro-Russian party Vazrazhdane, claimed that if Bulgaria joins the Eurozone, it will be at an exchange rate different from the current fixed one of 1.95583 leva for 1 euro, leading to people losing most of their savings.
DW Fact check found this claim to be false. The exchange rate between the Bulgarian lev and the euro is fixed through a currency board established in 1997, and Bulgaria will only join the common currency under the fixed exchange rate of 1.95583.
Disinformation Campaigns Against the Eurozone
Part of the reason why these claims have gathered steam is the country’s comparatively low media literacy rate, which is below the EU average. The disinformation narrative in Bulgaria says that people will lose most of their savings when the country joins the eurozone.
This narrative is heavily influenced by Russian narratives and is part of the general anti-EU and anti-Western narratives fueled by pro-Russian actors in Bulgarian society.
