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The European Commission gives the green light to Bulgaria for eurozone membership!

Politiko 2025-06-04 14:25:52

The European Commission gives the green light to Bulgaria for eurozone

The European Commission has given Bulgaria the green light to join the eurozone on January 1, 2026, marking the country's second significant step within a year on the path towards full integration into the European Union.

The EC, which met on June 4th to make a decision on the matter, said that Bulgaria meets the four nominal convergence criteria used to assess whether a country is ready to adopt the euro.

"The euro is a tangible symbol of European strength and unity," said European Commission President Ursula von der Leyen.

The European Central Bank is also expected to publish its opinion on June 4, and Bulgarian officials have said they expect a positive assessment from this institution as well.

The Council of the European Union will take the final decision on Bulgaria's admission to the eurozone, based on the opinions of the EC and the European Central Bank, as well as discussions with the Eurogroup and the European Council.

Although adopting the euro was one of the conditions for EU membership, legislative failures – including reforms to combat money laundering, concerns about inflation and political gridlock (Bulgaria has held seven elections in the last four years) – have made this journey difficult for Sofia.

A decision in favor of adopting the euro is Bulgaria's second major step within a year on the country's path toward EU integration.

In January, Sofia became a full member of the Schengen area and Bulgaria's borders with Greece and Romania are now fully open. /REL/

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