site.btaEuropean Commission Welcomes Council's "Landmark" Decision Approving Bulgaria's Euro Area Accession

The European Commission "welcomes the [EU] Council's decision to approve Bulgaria's accession to the euro area on 1 January 2026, making it the twenty-first Member State to join the single currency," the Commission said in a press release on Tuesday. "This landmark decision follows the Commission's 2025 Convergence Report of 4 June which concluded that Bulgaria had successfully met the convergence criteria to join the euro area, an assessment complemented by the European Central Bank's Convergence Report published the same day."

"Joining the euro area will bring tangible benefits to Bulgarian citizens and businesses: no more currency exchange costs, easier cross-border payments, increased price transparency, and better access to finance. It will also contribute to boosting trade, investment, and job creation, while granting Bulgaria a more prominent role within the euro area's decision-making structures like the ECB and the Eurogroup," the press release reads.

"The euro will make it easier for Bulgarians to travel, work, and do business across the euro area, reflecting the country's commitment to a united and prosperous European Union," the Commission said.