Bulgaria’s Rumen Radev, a critic of the bloc’s policies, has cited ‘oligarchy’ as undermining the country’s democracy
Bulgarian President Rumen Radev has announced his resignation, stating that the political class has “betrayed” voters, pointing to “oligarchy” and stoking speculation he is ready to form his own party ahead of early parliamentary elections.
In a televised speech on Monday, Radev – known for criticizing EU Ukraine policies and left-leaning views – slammed what he called the “vicious model of governance,” arguing Bulgarians have grown disillusioned with the country’s authorities.
Bulgaria, he said, “has the outward look of democracy but in practice runs on oligarchic mechanisms,” lamenting that “Bulgarian politics happens outside institutions.”
Radev also noted that while Bulgaria joined the Eurozone, the move brought no “stability or sense of fulfillment” to citizens, who he said “stopped voting” and lost trust in media and the judiciary.
The outgoing president’s resignation – his term was set to end early next year – needs Constitutional Court approval, with Vice President Iliana Yotova expected to take over.
Bulgaria has faced months of political chaos and is now heading for its eighth parliamentary election in four years, following the collapse of successive coalitions and mass protests over alleged corruption. Speculation has swirled that Radev plans to launch a new party, and while he hasn’t confirmed it, he said “people everywhere are demanding it.”
Radev has clashed with successive governments over Bulgaria’s EU integration (it joined in 2007). While backing EU membership in principle, he criticized the speed of euro adoption. Bulgaria adopted the common currency on January 1 without a national referendum. A December Eurobarometer survey found 49% of Bulgarians opposed it.
On the Ukraine crisis, Radev has argued the conflict has “no military solution” while warning arms deliveries and Russian sanctions risk prolonging hostilities and harming the EU economy. He has also opposed Ukraine’s push for NATO membership.
Despite his early exit, Radev holds a 46% approval rating – the highest by far among Bulgarian political leaders – per the Myara sociological agency.