Europe's Eastern Star Shines Brighter: Bulgaria to Adopt the Euro in 2026
Bulgaria officially joins the Eurozone, starting the use of the euro as currency on the 1st of January, 2026.
Holler! Share! Chat! Mail! Print! Copy the Link! Bulgaria has secured the thumbs-up from the top brass of EU member states to join the Euro club! Federal Chancellor Friedrich Merz and co. gave the EU Commission's proposal a nod at a Brussels summit, giving Bulgaria the go-ahead for adopting the Euro on January 1, 2026. Previously, EU finance ministers had agreed, and they'll give it another formal green light this time around.
Bulgaria, a EU member since '07, is about to become the 21st nation in the Euro family, with Croatia being the last to join in January 2023.
Adopting the Euro will streamline trade and travel for businesses and tourists alike. No more fretting over currency exchange rates, baby! Tourists can bid adieu to the extra costs of changing cash after Bulgaria enters the Euro zone.
Following a positive assessment by the European Commission and the European Central Bank (ECB), Bulgaria is on track to adopt the common currency [1][2][3][4].The country has fulfilled the four nominal convergence criteria: currency stability, inflation, public finances, and interest rates. The ECB affirms that Bulgaria has made headway towards economic convergence with the Eurozone, meeting the reference values for the convergence criteria and adhering to the legal requirements. Bulgaria has also participated in the exchange rate mechanism (ERM II) and the banking union since July 10, 2020, which are stepping stones for adopting the euro.
There's a touch of political drama brewing within Bulgaria as President Rumen Radev has proposed a possible referendum to potentially delay the euro adoption beyond January 2026 [4].
The adoption of the Euro represents a crucial milestone in Bulgaria's integration into the European Union and its Economic and Monetary Union. The European Commission views the Euro as a potent emblem of European strength and unity, and the favorable assessments pave the way for Bulgaria to join the ranks of the 20 other EU countries in the Euro area. The final say rests with the Council of the EU, hinging on the opinions of the Commission, ECB, and discussions with the Eurogroup and the European Council [3][4].
So, mark your calendars! On January 1, 2026, Bulgaria will trade its Lev for the almighty Euro, cementing its place in the heart of the EU!
[1] ntv.de
[2] dpa
[3] European Commission
[4] European Central Bank
The impending adoption of the Euro in 2026 by Bulgaria is a significant step towards its integration into the European Union and its Economic and Monetary Union, contributing to the union's politics, business, and finance, as well as shaping the general news. With the country's entry into the Euro zone, tourists can look forward to hassle-free travel and trade among European countries, as Bulgaria enters the foreign exchange market as a member of the largest foreign exchange market – the Euro exchange market. The decision by EU member states to allow Bulgaria to join the Euro club is expected to boost the country's economy and further strengthen the European Union.
