Vazrazhdane Gathers 437,000 Signatures for Referendum to Keep Bulgarian Lev, Sees No Argum

There are no arguments about the economic benefits in Bulgaria’s joining the euro area, Deyan Nikolov, spokesman of the initiative committee for holding a referendum on preserving the Bulgarian lev until 2043 with a subscription in support organized by the Vazrazhdane party, told a news conference in Pleven Saturday.

According to Nikolov, the only real argument is “that we will save [BGN] 200-300 million a year from revaluation. Instead, we will enter the European Stability Mechanism, created to rescue troubled economies like Italy, Greece, Portugal, Spain, where we will have our solidarity share and will have to contribute a certain amount”.

There is not a single macroeconomic indicator by which any country that has acceded to the euro area has improved its development after joining, Nikolov pointed out. 

Vazrazhdane regional coordinator Danail Radentsov said that over 14,000 signatures in support of holding a referendum to preserve the Bulgarian lev until 2043 have been collected so far in the region alone. In the country they number 437,000. According to Vazrazhdane, the referendum can be held parallel to the local elections this fall.