Bulgaria Steps Into the Euro Era, Officially Adopting the Single Currency Nearly Two Decades After Joining the European Union

Bulgaria has entered a new economic chapter. The country has officially adopted the euro. This comes almost 20 years after joining the European Union. At midnight on Thursday, the lev was withdrawn. Bulgaria became the 21st member of the eurozone.

The moment was marked in Sofia. Euro symbols lit up the central bank building. Despite freezing temperatures, crowds gathered. Soon after, ATMs began issuing euro notes. “Great! It works,” said Dimitar, 43, after withdrawing cash.

European leaders welcomed the move. European Central Bank President Christine Lagarde called the euro a symbol of unity and shared strength. European Commission President Ursula von der Leyen said the change would ease travel. She added it would boost transparency and trade.

Bulgarian leaders have long pushed for the euro. They believe it will stabilise the economy. They also see it as a way to deepen EU ties. Others say it will reduce Russian influence. Bulgaria, with 6.4 million people, remains the EU’s poorest member. Officials hope the euro will attract investment.

Still, fears remain. President Rumen Radev praised the switch. However, he criticised the lack of a referendum. He said the decision showed a deep divide between leaders and citizens. That divide has fueled protests and political unrest.

Inflation worries dominate public debate. Food prices rose five percent in November. This is more than double the eurozone average. Many fear prices will rise further. Wages, they say, will not keep up. “Prices no longer match those in levs,” said pastry shop owner Turgut Ismail.

Across Sofia, shops now display prices in both currencies. Some shoppers remain uneasy. Others stay hopeful. “Europe has managed with the euro. We will too,” said retiree Vlad.

Political uncertainty adds pressure. Bulgaria faces its eighth election in five years. Analysts warn any disruption could boost anti-EU voices. Some shopkeepers have already complained. They say euro starter kits arrived late.

Despite concerns, supporters remain confident. They see the euro as a step forward. With Bulgaria’s entry, more than 350 million Europeans now use the single currency.