EU gives the green light for the introduction of the euro in Bulgaria – protests threaten!

EU gives the green light for the introduction of the euro in Bulgaria – protests threaten!

In a landmark decision, the EU summit in Brussels today gave the green light for the introduction of the euro in Bulgaria. The euro is set to replace the national currency, the lev, from January 1, 2026. This decision, which comes with the support of Chancellor Friedrich Merz and other EU heads of state and government, follows the approval of EU finance ministers, although formal confirmation is still pending. According to information from t online Bulgaria is now ready to become the 21st country in the Eurozone.

Bulgaria became a member of the European Union in 2007 and now plans to adopt the euro to facilitate trade and travel within the EU. This could be particularly beneficial for businesses and tourists as it eliminates the exchange rate problem. Croatia most recently adopted the euro on January 1, 2023. Despite these positive aspects, Bulgaria is one of the poorer EU countries and its GDP per capita was the lowest within the community in 2024.

Fulfillment of the criteria and resistance in the population

The introduction of the euro was originally planned for early 2024, but was postponed due to a high inflation rate of 9.5%. To join the euro, certain criteria must be met, including price stability, sound public finances and stable exchange rates. The European Commission and the European Central Bank (ECB) have confirmed that Bulgaria meets these requirements, as the ECB reported.

However, there is considerable resistance to the introduction of the euro in Bulgaria. Protests led by nationalist and pro-Russian parties take place in Sofia. Demonstrators demand the preservation of the national currency, the lev. The Vasrashdane party in particular has called for a referendum on the currency issue, but their request has already been rejected by parliament. Surveys show a divided opinion among the population: 54.9% are against the introduction of the euro, while only 34.4% are in favor. In the economy, however, 66.3% are in favor of joining the Eurozone.

Price increases in focus

The Bulgarian authorities have also started to introduce controls against unfounded price increases in order to address public concerns. In view of the divided opinion and the ongoing protests, the further discussion about the euro in Bulgaria is likely to intensify.