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Political Instability in Bulgaria: Challenges for EU Relations and Eurozone Aspirations
Explore the impact of political instability in Bulgaria on its relations with the EU and aspirations to join the Eurozone. Understand the challenges faced and the implications for both Bulgaria and the broader European community.
Political Instability in Bulgaria: Implications for EU Relations
Concerns are escalating regarding the political instability in Bulgaria, which threatens to disrupt ongoing negotiations and crucial dossiers with the European Union. Following the announcement of early parliamentary elections on Monday, Bulgaria is set for its seventh electoral exercise in just three years. This frequent cycle of elections raises significant questions about who will be appointed as Bulgaria’s next commissioner, with the decision expected by the end of the month.
Former Bulgarian Deputy Foreign Minister Milen Keremedchiev commented on the situation, stating, “I anticipate that the electoral battles unfolding within the European Union will influence the selection of the new commissioner.” He further speculated, “It seems likely that current Commissioner Iliana Ivanova will emerge as the preferred candidate.”
One pressing issue on Bulgaria’s agenda is its aspiration to join the Eurozone. The country aims to adopt the single currency by 2025; however, the recent political turmoil casts doubt on the feasibility of this goal. Dimitar Bechev, a Senior Fellow at the Carnegie Europe think tank, noted, “The initial plan was for Bulgaria to join the Eurozone on January 1, 2025. Unfortunately, this now appears to be an elusive target. The European Commission’s report on Bulgaria’s readiness was not encouraging, particularly as the inflation target remains unmet, and the caretaker government lacks the political clout to rectify these figures.”
Moreover, Bulgaria faces challenges in accessing funds from the European recovery plan established in response to the Covid-19 pandemic. These funds are contingent upon meeting specific milestones set by the EU. Nevertheless, Bechev reassured that the prevailing political instability should not undermine the agreement regarding Bulgaria’s partial entry into the Schengen area. Notably, as of March 31, there have been no border controls at air and sea entry points between Bulgaria and other member states within the European free movement zone.
The Seventh Early Election in Three Years
Bulgaria’s political landscape took another turn on Monday when the populist right-wing party, ‘There Is Such a People’ (ITN), returned the third government-forming mandate to President Rumen Radev after coalition talks ended in failure. This situation has triggered yet another snap election, marking the seventh early vote in a little over three years. Of the six elections conducted since 2021, only two have successfully produced an elected government.
The political scene in Bulgaria has been marred by a cycle of unstable governments since 2020, when widespread anti-corruption protests led to the ousting of a coalition led by the centre-right GERB party.