"Bulgaria is set to adopt the euro on January 1, 2026, making it the 21st member state of the eurozone. Joining the currency club marks a major milestone for the Eastern European country, which entered the European Union in 2007. Bulgaria's accession leaves only six of the 27 EU nations outside the currency union: Sweden, Poland, the Czech Republic, Hungary, Romania and Denmark."
"The euro is "not just a currency but a strategic choice" that strengthens Bulgaria's position in Europe, Bulgarian Prime Minister Rosen Zhelyazkov said at a high-level conference in the Bulgarian capital, Sofia, in November. At the same event, Christine Lagarde, president of the European Central Bank, said the euro adoption "bolsters Bulgaria's economic foundations, builds its resilience against global shocks and amplifies its voice in euro area decision-making.""
Bulgaria will adopt the euro on January 1, 2026, becoming the eurozone's 21st member and leaving only six EU states outside the currency union. The lev has been pegged to the euro since 1999, Sofia formally began euro accession in 2018 and the lev joined the European Exchange Rate Mechanism in July 2020. Political leaders portray euro adoption as a strategic choice to strengthen Bulgaria's position, bolster economic foundations, build resilience against global shocks and increase influence in euro area decision-making. Economists warn that membership will not automatically raise living standards without mandatory and postponed domestic reforms for equal participation.
Read at www.dw.com
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