Bulgaria joins the euro as the 21st member of the currency union

Bulgaria becomes the 21st country to adopt the euro on New Year's Day, amid political instability and public concern about price rises.

Bulgaria officially adopts the euro on New Year's Day and becomes the 21st member of the euro currency union. The change comes as the country faces political instability after the government resigned and without a regular budget for next year. Many people express skepticism, citing worries about price increases and broader economic and governance concerns. Key points: - Officials completed the euro adoption after meeting EU criteria, including reducing inflation to 2.7% earlier this year. - The lev has been legally pegged to the euro since 1999 at a fixed rate, and both lev and euro will be accepted for cash payments during January, with change given only in euros. - Polls showed roughly half of Bulgarians opposed joining the euro, and opponents and nationalist groups have spread disinformation about the change. - The government resigned after nationwide anti-corruption protests, and a new election is expected next spring. Summary: The adoption formalizes deeper economic integration with the European Union while arriving amid domestic political uncertainty and public debate over short-term price effects. How pronounced the immediate economic consequences will be is undetermined, and political developments — including the expected election next spring — are likely to shape decisions on reforms and use of EU support funds.