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Bulgaria Adopts the Euro Nearly 20 Years After EU Membership

Published January 1, 2026, 07:16

Bulgaria adopted the euro and became the 21st country to choose the single European currency, almost 20 years after joining the European Union. At midnight on Thursday, the small Balkan nation, which joined the EU in 2007, abandoned the lev, its national currency used since the late 19th century, hoping to strengthen its economic ties with other eurozone members, while also worrying about rising prices in an already unstable political environment. Thousands of people braved polar temperatures to attend the traditional New Year's Eve concert organized by the Sofia municipality in front of the former Royal Palace. A countdown clock on the facade of the Bulgarian National Bank headquarters, located in the same square, showed the minutes until midnight. Bulgarian euro coins were projected onto the building at midnight. "The adoption of the euro is the final stage of Bulgaria's integration into the European Union," President Rumen Radev said in a televised address shortly before midnight, while also expressing regret that a referendum on the issue, which has divided the country, was not held so that Bulgarians could express their opinion.