Bulgaria Adopts Euro: Implications and Reactions
On July 8, 2024, EU ministers approved Bulgaria’s adoption of the euro, set to occur on January 1, 2026, making it the 21st member of the Eurozone. This decision comes nearly two decades after Bulgaria joined the EU and was made possible after the European Commission determined Bulgaria met the necessary criteria. While some Bulgarians express skepticism, citing fears of rising prices, proponents believe the move will bolster the economy and strengthen ties with the West. The euro’s value has been gaining ground as the Eurozone continues to expand.
John Q. Hosedrinker