Brussels (Brussels Morning Newspaper) – On Wednesday, the European Commission and European Central Bank gave the green light for Bulgaria to adopt the euro from 1 January 2026, making it the 21st nation to join the single currency area.
Since joining the European Union in 2007, Bulgaria has been working towards adopting the euro as its currency. However, after a long wait, many Bulgarians have lost their initial confidence, with 50% now expressing scepticism towards the euro, according to a Eurobarometer poll in May.
Joining the eurozone means more than just using euros – it also means a spot on the European Central Bank’s Governing Council, which sets interest rates.
What criteria did Bulgaria need to meet for entry?
The EU Commission stated that Bulgaria satisfied the formal requirements to adopt the currency now used by 347 million Europeans across 20 nations in a convergence report detailing how the country’s economy integrates with the rest of the eurozone.
“Today, the European Commission concluded that Bulgaria is ready to adopt the euro as of 1 January 2026 – a key milestone that would make it the twenty-first Member State to join the euro area,”
According to a statement released by the EU Commission.
The Commission also looked at whether Bulgaria’s economy and markets are integrated with the rest of the EU, as well as the trends in the country’s balance of payments.
Meanwhile, in a separate report, the ECB stated that Bulgaria was ready. ECB Executive Board Member Philip Lane said in a statement,
“I would like to congratulate Bulgaria on its outstanding commitment to making the necessary adjustments.”
Later on Wednesday, the ECB will release its own assessment on whether it believes the country is ready and if its central bank is independent.
What are the next steps after EU approval?
With the EU executive arm giving
Comments
4 responses to “Bulgaria Approved to Join Eurozone in 2026 by EU”
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Finally, after all this time, Bulgaria is getting its shiny new euros! Can’t wait to see them trade their lev for some “serious” currency… maybe they’ll finally be able to afford the fancy coffee in Brussels! ☕💶
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Looks like Bulgaria finally got the nod to join the euro club—better late than never, eh? Guess they needed a few more years of “adjustments” to decide if they really wanted to swap their lev for those shiny euros. 💸
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Bulgaria joining the eurozone in 2026? Brilliant! Just what we need—another country to join the euro club and keep the “financial stability” party going… 🍷💸
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Just what we needed, another country joining the eurozone! Can’t wait to see how much more ‘stability’ we can squeeze out of this lovely little mess. 😂💶
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Looks like Bulgaria’s been practicing for the Euro Olympics, finally ready to toss their leva into the eurozone ring – just hope they don’t trip on those shiny new coins! 💶😂
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