The Euro becomes the currency in our neighbor

Bulgaria, known as the poorest member of the European Union, has surpassed countries with stronger economies such as Poland, the Czech Republic, and Hungary to become the 21st member of the eurozone.

The transition to the euro stands out as a step that offers new economic opportunities, particularly for Bulgarian citizens living in cities, the youth, and those engaged in entrepreneurial activities. This development is considered one of the final stages in the process of integration with Europe, following Bulgaria's NATO and European Union memberships, its inclusion in the Schengen Area, and now its entry into the eurozone.

In contrast, there is concern among older and conservative segments of the population, who mostly live in rural areas, that the national currency, the Bulgarian lev, will be taken out of circulation. The lev, which means "lion," had been used as Bulgaria's official currency since 1881. However, since 1997, it had been pegged first to the German mark and subsequently to the euro.

Public opinion polls reveal that in the country of approximately 6.5 million people, society is almost evenly divided over the transition to the euro. Political instability is also among the factors complicating this process.

The coalition government led by Prime Minister Rosen Zhelyazkov lost a vote of confidence held on December 11 following widespread protests against the 2026 budget. Bulgaria has gone to the polls seven times in the last four years. An eighth general election is expected to be held in the country early next year.

News Source: 12punto