Bulgaria officially adopted the euro on Thursday, becoming the 21st member of the eurozone and marking a major milestone nearly two decades after joining the European Union, despite opposition from segments of its population.
The Balkan country’s entry into the single currency bloc expands the number of people using the euro to more than 350 million across Europe. Bulgaria follows Croatia, which became the most recent eurozone member in January 2023.
European Central Bank President Christine Lagarde welcomed Bulgaria’s accession, describing the euro as a symbol of European unity and shared strength, according to dw.com
“The euro is a powerful symbol of what Europe can achieve when we work together, and of the shared values and collective strength that we can leverage to confront the global geopolitical uncertainty we face today,” she said in a statement.
Bulgaria joined the European Union in 2007 and has since pursued euro adoption as part of its long-term economic integration with the bloc.
While the move has been celebrated by supporters as a step toward greater financial stability and deeper European integration, it has also faced criticism from sections of society concerned about price increases and the loss of monetary sovereignty.
With Bulgaria’s accession, only six of the European Union’s 27-member states remain outside the eurozone: Sweden, Poland, the Czech Republic, Hungary, Romania and Denmark.
