The European Commission approved Bulgaria’s plan to adopt the euro next year on Wednesday, setting the Balkan nation on track to become the 21st member of the eurozone.
The commission announced that Bulgaria has met the stringent criteria “designed to ensure that a country is prepared to adopt the euro and that its economy is sufficiently ready for the change.”
Bulgarian Prime Minister Rossen Jeliazkov celebrated “a historic day” following “years of reforms, dedication, and alignment with our European partners.”
However, this initiative has provoked a response from many Bulgarians, with protests and recent polls indicating that nearly half of those surveyed oppose the adoption of the euro, fearing adverse economic effects.
About 1,000 demonstrators gathered on Wednesday in front of the National Assembly building in Sofia, waving signs that read “Preserve the Bulgarian lev,” “No to the euro,” and “The future belongs to sovereign states.”
This protest was organised by the opposition party Vazrazhdane, which is pro-Russian.
Some individuals expressed their support for the European Commission’s approval in Sofia’s streets. Bulgaria’s journey to eurozone membership has been tumultuous, marked by political instability, with seven elections over three years—the latest in October 2024.
The EU’s executive committee’s endorsement comes 18 years after Bulgaria joined the European Union.
With a population of 6.4 million, Bulgaria has invested several years preparing its economy for eurozone accession.
Bulgaria also requires the endorsement of the EU’s finance ministers, who are anticipated to grant their full support in July, ahead of formally adopting the euro on January 1, 2026.
