Euro Not Just a Currency but Strategic Choice, PM Zhelyazkov Says

UPDATED Euro Not Just a Currency but Strategic Choice, PM Zhelyazkov Says

Konstantin Karagyozov

Bulgarian Prime Minister Rosen Zhelyazkov addresses the high-level conference “Bulgaria on the Doorstep of the Eurozone” in the Boyana Residence in Sofia on November 4, 2025 (BTA Photo/Milena Stoykova)

Sofia,

04.11.2025 09:46 | UPDATED 04.11.2025 10:32

(BTA)

The euro is not merely a monetary unit but a strategic choice that affirms Bulgaria’s place at the heart of a united and strong Europe, Prime Minister Rosen Zhelyazkov said in his address at the high-level conference “Bulgaria on the Doorstep of the Eurozone” in the Boyana Residence in Sofia on Tuesday. The event, organized by the Finance Ministry and the Bulgarian National Bank is part of the communication campaign for the introduction of the euro in Bulgaria as of January 1, 2026.

“Our goal is not simply to join – our goal is to be part of the euro area,” the Prime Minister said, noting that this means full participation in the European economic architecture.

“Today, Bulgaria stands on the doorstep of an important moment in its historical development. As of January 1, Bulgaria will become part of the family of countries that have adopted the euro as their own currency, not a foreign one, uniting over 340 million citizens in more than 20 European states,” Zhelyazkov added.

The Prime Minister explained that Bulgaria’s accession to the euro area will lead to greater investor confidence, lower costs for businesses and citizens, enhanced financial stability and protection against external shocks, accelerated economic growth, and increased competitiveness.

According to Zhelyazkov, the decision to join the euro area carries significant political, economic, and social importance. He described it as a recognition of the consistent efforts of generations of Bulgarian politicians, numerous experts, citizens, and civil society. It also symbolizes the trust that Bulgaria’s European partners have shown in the country, he said.

“This path was not and is not an easy one,” he said, recalling that it began with Bulgaria’s accession to the European Union, when the commitment to join the euro area was first made. After 2018, Bulgaria’s efforts to join the monetary union gained substantial momentum, as the country took on a number of commitments to address long-standing issues. The reforms were not easy but necessary, he acknowledged. One of the key steps, he added, was establishing a complex yet effective system of interinstitutional coordination, Zhelyazkov continued.

“Bulgaria is a better place to live and to do business precisely because of this process,” Zhelyazkov emphasized. He assured that Bulgaria is prepared in terms of the legislative framework, logistical readiness, adaptation of payment systems, and mechanisms for consumer protection and awareness.

The success of the euro’s introduction depends not only on the efforts of institutions but also on the most important component – public trust, Zhelyazkov went on to say. That trust, he noted, has been deliberately undermined over the years by anti-European political actors. Despite this, most Bulgarians continue to choose the European path “with their hearts,” he said with conviction. Currently, “we are seven percentage points in favour of trust,” he added, referring to public attitudes toward euro area membership. He also pointed out that the business community has consistently supported the adoption of the euro. “Trust is growing steadily,” he summarized.

According to sociological data, Bulgarian citizens expect positive effects in the medium term, but especially in the long term, Zhelyazkov added.

“We can say with confidence that we are prepared for a smooth transition to the euro, consistent in our commitments, and confident in Bulgaria’s European future,” the Prime Minister said. “I am certain that on January 1, 2026, Bulgaria will welcome the new currency as a symbol of the maturity of our European democracy,” he added.

/KK/