Bulgaria Makes a Historic Leap into the Eurozone

Thu Jan 01 2026 04:32:45 GMT+0200 (Eastern European Standard Time)

After a long and tumultuous journey, Bulgaria has officially joined the eurozone, becoming the 21st member to adopt the euro. The transition brings both optimism and resistance among the populace, as the country grapples with economic and political challenges.

Bulgaria has officially adopted the euro, becoming the latest country to join the eurozone despite a history of economic challenges and political instability. While many young and urban Bulgarians view this change as an opportunity, significant segments of the population express fear and resentment over the currency transition. With the lev being replaced after more than a century, the nation faces a divided opinion on the euro's impact amidst ongoing political turmoil.

Bulgaria - the poorest country in the European Union - has become the 21st member of the eurozone, leapfrogging more prosperous candidates like Poland, the Czech Republic, and Hungary.

For young and entrepreneurial Bulgarians, this transition represents optimism and potential financial growth, marking a significant step in aligning with the European mainstream, following memberships in NATO and the EU, and now entering the eurozone.

Conversely, older and rural citizens express fears and resentment over losing the Bulgarian lev, causing a divide in public opinion regarding the new currency.

The lev has served as Bulgaria's currency since 1881 but has been pegged to other European currencies since 1997. Opinion polls indicate a roughly divided sentiment on adopting the euro among the 6.5 million Bulgarians, with political instability complicating the transition.

Bulgarian Prime Minister Rosen Zhelyazkov's coalition government faced a confidence vote amid mass protests against the 2026 budget, leading to calls for a potential referendum on euro adoption, which the outgoing government rejected.

Many shopkeepers have already prepared for the transition, and throughout January, payments can be made in both lev and euros, though from February 1, only euros will be accepted.

The introduction of the euro also sees Bulgarian symbols ingrained into its coin designs to assuage fears of losing national sovereignty. Pricing issues are being monitored to prevent price hikes as citizens adjust to the new currency.

The economic outcomes of joining the eurozone remain uncertain, provoking discussions of both successful and stagnant models seen in other European nations.