The last country to join the euro was Croatia in 2023
Bulgaria is ready to enter the eurozone on January 1, 2026 after the final approval today given by the European Union Council (EU) and the European Parliament, becoming the 21st member of the single currency area.
“The board today adopted the last three legal acts necessary for Bulgaria to introduce the euro on January 1, 2026. The process is thus concluded for Bulgaria to become the 21st member of the EURO area and benefit from the use of the EU common currency, the euro, from next year,” the structure that brings together the Union states joins.
Also the European Parliament indicates in a press release that “the MEPs have given an opinion overwhelmingly favorable to Bulgaria’s candidacy for the Euro and adherence to the eurozone”, in an approved 531 reports in favor, 69 against and 79 abstentions in the plenary session that runs in the French city of Strasbourg.
The Eurozone is a monetary union composed of 21 of the 27 European Union countries that adopted the euro as an official currency.
Formally created in 1999 to promote economic stability and financial integration between Member States, the eurozone is managed by the European Central Bank, which defines the common monetary policy.
To join, countries must meet rigorous economic and financial criteria, known as convergence criteria.
This union allows for greater ease in commercial transactions, price stability and elimination of currency fluctuations within the block, although it also brings challenges such as joint management of economic crises.
The last country to join the euro was Croatia in 2023.
Regarding Bulgaria, the conversion rate between the euro and the lev Bulgarian is now established in 1.95583 Lev by 1 euro.
