"Bulgarians began withdrawing euros for the first time on Thursday after the former communist nation joined the euro currency union as its 21st member. Cash machines in the capital, Sofia, dispensed brand new euro banknotes, replacing the lev, which will still be in use for cash payments in January. However, people will receive only euros in change. The country of nearly 6.7 million people was one of the poorest when it first became a member of the European Union in 2007."
"However, the historic milestone arrives amid political instability, with the conservative-led government forced to resign earlier this month following nationwide anti-corruption protests, and skepticism among ordinary people, fueled by fears of price rises. The government had to beat down inflation to 2.7% earlier this year to comply with EU rules and win approval from EU leaders. But its resignation left the country without a regular budget for next year, hampering reforms and the use of the 27-member bloc's support funds, fueling protests."
Bulgaria began circulating euros after joining the euro currency union as its 21st member, with ATMs in Sofia dispensing euro banknotes and the lev remaining for some cash payments in January while change will be in euros. The country of about 6.7 million joined the EU in 2007 and euro adoption deepens integration following its 1989 transition from a Soviet-style economy to democracy and markets. The change coincides with political instability after a government resignation amid anti-corruption protests, public fears of price rises, and reduced fiscal capacity that hampers reforms and use of EU support funds.
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