Sofia, Bulgaria – A fresh wave of disinformation is sweeping across Bulgaria, falsely claiming that the European Union plans to seize citizens’ savings if they are not spent within six months.
The baseless allegation, widely circulated on social media and amplified by pro-Russian and Eurosceptic voices, including Bulgarian MEP Rada Laykova of the far-right “Revival” party, has sparked unwarranted public anxiety.
The rumor misrepresents the European Central Bank’s (ECB) ongoing exploration of a digital euro, a project aimed at modernizing financial systems across the bloc.
The ECB initiative, which is still in its early study phase, seeks to introduce a digital currency that would function alongside traditional cash—not replace it.
Contrary to the conspiracy theories being circulated, there is no provision in the digital euro proposal suggesting that funds would expire or be confiscated.
The central concept, under examination since 2021, would enable EU citizens to hold up to €3,000 in a secure digital wallet for convenient, safe online and offline transactions. The earliest possible launch, according to ECB timelines, would be 2026.
Nevertheless, disinformation actors in Bulgaria have seized on this complex topic to peddle fear. Prominent among them is Rada Laykova, who recently claimed in the European Parliament that the EU is preparing to “forcefully extract savings” to “finance its war against Russia”—a statement with no factual basis.
“These are classic fear tactics,” said Dr. Ivan Dobrev, a political analyst at the Sofia-based Center for European Policy Studies. “By distorting the truth, disinformation campaigns aim to destabilize public trust in European institutions.”
The false narrative has gained traction on Bulgarian social media, where influencers such as Hristina Koemdzhieva and controversial journalist Martin Karbovski have echoed the claims without offering any credible evidence.
Their posts suggest the EU intends to punish citizens who do not spend their money quickly enough—despite no such mechanism being proposed in any official EU document.
Analysts link this campaign to similar disinformation efforts in Russia, where state-linked media have stoked public fears about the digital ruble.
The strategy, experts say, appears to be part of a broader pattern of undermining confidence in democratic institutions through psychological manipulation and manufactured outrage.
The ECB has responded to concerns by reiterating its commitment to transparency and consumer choice. In a recent public statement, the bank emphasized that the digital euro, if introduced, would be entirely voluntary and would coexist with cash and existing banking services.
“There is no plan, proposal, or discussion within EU institutions about limiting how long citizens can keep their money,” said ECB spokesperson Anna-Maria Lagarde. “The aim is innovation, not control.”
As the EU continues to assess the feasibility of a digital euro, officials and fact-checkers urge the public to rely on trusted sources and verified information. Misinformation, they warn, not only spreads confusion but also jeopardizes informed public discourse.
In the meantime, Bulgarian authorities and media watchdogs are working to debunk these rumors and educate the public about the facts—before fiction takes deeper root.