Bulgaria Embraces the Euro Amid Division and Hope

Thu Jan 01 2026 02:39:20 GMT+0200 (Eastern European Standard Time)

Bulgaria officially adopts the euro as its currency, marking an important milestone while revealing deep societal divides over the change.

Bulgaria, the poorest EU member, has become the 21st country to adopt the euro, sparking a mixture of optimism among the younger, urban population and apprehension among older, rural citizens. The transition unveils a societal split regarding currency change amid political turmoil and economic adjustments. With existing prices presented in both lev and euro, the new era will officially begin on February 1, when payments will solely be accepted in euros, leaving Bulgaria amidst a critical financial crossroad.

Bulgaria - the poorest country in the European Union - has become the 21st member of the eurozone - leapfrogging more obvious and prosperous candidates like Poland, the Czech Republic and Hungary.

For mostly urban, young and entrepreneurial Bulgarians, it's an optimistic and potentially lucrative leap - the final move in a game which has brought Bulgaria into the European mainstream - from Nato and EU membership, to joining the Schengen zone, and now the euro.

For the older, rural, more conservative parts of the population, the replacement of the Bulgarian lev by the euro provokes fear and resentment.

The lev - meaning lion - has been the Bulgarian currency since 1881, but it has been pegged to other European currencies since 1997 - first the Deutschmark, then the euro.

Opinion polls put Bulgaria's 6.5 million population more or less equally divided on the new currency, and political turmoil is not making the transition easy.

Prime Minister Rosen Zhelyazkov's coalition government lost a confidence vote on 11 December, after mass protests against the 2026 budget. Bulgaria has held seven elections in the past four years - an eighth looks likely early next year.

'I don't want the euro, and I don't like the way it has been imposed on us,' Todor, 50, a small business owner in the central town of Gabrovo, told the BBC.

'If there were a referendum, I reckon 70% of the people would vote against it.'

A referendum on euro adoption was proposed by President Rumen Radev but rejected by the outgoing government.

On the other hand, Ognian Enev, a 60-year-old tea shop owner in Sofia, expressed optimism saying, 'On the whole, it's a good thing. It's just a technical change. It doesn't bother me.' He remained hopeful that the euro would enhance trade.

Throughout January, transactions can be conducted in both lev and euros, but as of February 1, payments in lev will no longer be accepted.

The design of the new euro coins reflects Bulgarian heritage, featuring symbols of national pride to alleviate fears of losing sovereignty.

As many shopkeepers get ready for the transition with new currencies, the question of how the euro will ultimately affect Bulgaria's economy remains uncertain. Citizens are cautiously looking to the experiences of other countries as they navigate this new chapter.