The European Central Bank and the European Commission continue to say they do not intend to end cash payments. Paying with cash is guaranteed by the Treaty on European Union, while the proposal to also enshrine it in Bulgaria’s Constitution was described as populist.
Journalist Nikolay Stoyanov told Nova TV that such messages play on people’s fears. In his view, the debate did not begin with the governing parties but with more nationalist organizations that have raised the issue of preserving cash payments.
Stoyanov also pointed to uncertainty about the proposal’s practical effect. If cash payments become an explicit constitutional right, he said, all merchants would presumably have to accept cash, meaning shops could not refuse it and insist on card-only payments.
Financial analyst Deyan Vasilev said he was shocked when he learned about the proposal. He questioned whether the Constitution should regulate payment instruments and compared the debate to writing into the basic law that the Sun rises in the east.
“Cash has existed, exists and will continue to exist,” Vasilev said. He warned, however, that if Europe does not move toward introducing a digital euro, the continent could become strategically vulnerable. In that case, he said, more Europeans would use the digital dollar instead.
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7490 | 19 Aug. 2026 | 09:52
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