I may be old-fashioned, but I strongly believe in democracy with my proposal for a referendum on the introduction of the euro in Bulgaria. Some leaders believe in technocracy, others in the driving force of the economy. But if there is no democracy, the entire social structure is doomed. That is why I initiated the holding of a referendum on Bulgaria's readiness to join the eurozone in 2026. I thank Richard Quest for the invitation to an interview with CNN after the opening of the Tashkent International Investment Forum.
There will be no constitutional crisis and there cannot be if the Bulgarian Prime Minister continues to insist on joining the eurozone, and the president – this should not happen so quickly and only after a referendum. However, this would undermine the social contract between the government and the Bulgarian citizens. In the last four years, seven parliamentary elections have been held in our country and we are witnessing a decline in trust in institutions. The referendum could restore trust in the Bulgarian government, because one of the goals of the countries that held the referendum is precisely to strengthen the legitimacy of this process.
The positive reports received from the European Commission and the European Central Bank are the result of many years of conservative financial policy, hard work and sacrifices, and Bulgarian citizens have paid for all of this. In the medium and long term, the euro is expected to bring benefits to the Bulgarian economy, but the lack of consensus in our society is not about the country's European path, but whether Bulgaria is ready to introduce the euro in 2026.
The time for a referendum on the introduction of the euro in Bulgaria has not passed. The processes are extremely dynamic and everything is changing very quickly, even in the EU itself. An indicator of this is the departure of the United Kingdom from the union. It is also indicative that 18 out of 27 member states have held their own referendums on joining the EU with a binding agreement to adopt the common European currency.
The new sanctions imposed by the EU on Russia because of the war in Ukraine require, above all, that we understand and recognize what the result of the sanctions is and who is the winner of these sanctions. China is the one who benefits the most from the policy of sanctions against Russia, because it benefits from cheap Russian energy resources and from access to military technology. By withdrawing its companies from Russia, the EU opened the large Russian market to companies from China, and thus the sanctions bind Russia and China even more strongly.
With regard to the war in Ukraine, the international community is “flying” towards an extremely difficult political and moral dilemma. The Americans call this war “boots on the ground warfare”. This is a battle for every inch of territory, and the most important factor in it is not weapons, but people. The problem is that the moment is approaching when Ukraine may be left without people to fight for it.
On the other hand, do you think that Russia will ever cede Crimea and other areas? This leaves us with two options. The first is to accept the fact that in the 21st century territories can be conquered by force and forget about international law and the UN Charter. The other is to send NATO troops to defend Ukraine and push Russia back to its 1991 borders, which means a third world war with devastating, most likely nuclear consequences. This is the biggest dilemma.
Therefore, I strongly support the efforts of the new US administration to initiate a peace process between Russia and Ukraine. There are three tools to influence this process - military, economic sanctions and diplomacy and the full potential of diplomacy has not yet been mobilized. That is why I strongly support President Trump's efforts. I believe that he is a pragmatic businessman who does not accept the devastation of any war and my disappointment is that President Trump still does not find enough support in the European Union for his peace efforts. Some European leaders refuse to accept the reality of the battlefield and this is also a big problem.
This war challenges our security architecture, our industrial base, our economies and social systems. But most of all, war is a challenge to our critical thinking, to our ability to understand and analyze all strategic and operational aspects, to define the desired end state and what victory means. The war in Ukraine has also challenged the ability to set adequate political goals and to bring them into a rational strategy.
When asked by the host how I would comment on what was happening in the US, I replied that we have enough problems in Bulgaria to immerse ourselves in the problems of the US, which are like an ocean compared to our Black Sea. Bulgaria expects the US to be a factor of stability and democracy.