Bulgaria Adopts the Euro as 21st Member of Currency Bloc Amid Public Divide
Bulgaria has officially joined the eurozone, becoming the 21st country to adopt the single European currency after a long and often turbulent path to membership.
The move places the Balkan nation ahead of larger and wealthier EU members such as Poland, the Czech Republic and Hungary, which have yet to make the transition. For many younger, urban and business-minded Bulgarians, the euro represents another milestone in the country’s steady integration into Western institutions, following NATO and EU membership, entry into the Schengen zone and now full participation in the euro area.
However, enthusiasm is far from universal. Among older and more rural communities, the replacement of the Bulgarian lev has stirred anxiety and resentment, with critics arguing the change has been pushed through without sufficient public consent.
The lev, whose name translates as “lion”, has been Bulgaria’s national currency since 1881. Although it has been tightly linked to European currencies since 1997 – first the German Deutschmark and later the euro – its formal withdrawal carries strong symbolic weight for many citizens.
Public opinion remains sharply divided. Surveys suggest the country’s 6.5 million people are almost evenly split on euro adoption, a tension heightened by ongoing political instability. Prime Minister Rosen Zhelyazkov’s coalition government lost a confidence vote in December following protests over the 2026 budget, and Bulgaria has held seven elections in just four years, with another vote expected soon.
In Gabrovo, a central Bulgarian town near the Balkan mountains, small business owner Todor expressed frustration with the change. He said the past year had been difficult due to high inflation and falling demand, which he partly blamed on uncertainty around the euro. He also criticised the lack of a public vote on the issue, claiming most Bulgarians would oppose the move if given the chance. A proposed referendum backed by President Rumen Radev was ultimately rejected by the outgoing government.
Others see the transition as largely practical. In Sofia, tea shop owner Ognian Enev described the switch as a “technical change,” noting that major purchases such as property and cars have long been priced in euros. He also pointed out that money sent home by the roughly 1.2 million Bulgarians living abroad has typically arrived in the single currency for years.
During January, consumers are allowed to pay with either lev or euros, though change must be given in euros. From 1 February, the lev will no longer be accepted as legal tender. Since August 2025, businesses have been required to display prices in both currencies, a measure intended to ease the transition and prevent price manipulation.
With €1 fixed at 1.95583 lev, authorities have set up monitoring bodies to address public concerns over price increases. While some fear rounding-up could drive inflation, officials say certain costs — including public transport fares in Sofia — will actually fall slightly.
To address worries about national identity, Bulgaria has incorporated local symbols into the design of its euro coins. Figures such as St Ivan of Rila and Paisius of Hilendar feature on higher denominations, while smaller coins display the Madara Rider, a symbol of early Bulgarian statehood.
As the country embarks on life inside the eurozone, debate continues over what the change will mean in the long term. Some point to the Baltic states as examples of successful euro adoption paired with reform and growth, while others warn Bulgaria could face a more sluggish path similar to Italy’s experience.
For many Bulgarians, the euro is both a promise and a gamble – one whose true impact will only become clear in the years ahead.
