site.btaEuropean Commissioner Dombrovskis Optimistic Procedure for Bulgaria's Eurozone Accession to End July 8

European Commissioner for Economy and Productivity Valdis Dombrovskis said that he was optimistic that the procedure for Bulgaria’s accession to the eurozone will conclude in the coming days. Dombrovskis spoke to journalists in Luxembourg on Thursday, before the beginning of an Eurogroup meeting.

“I look forward to presenting the European Commission’s convergence report which confirms that Bulgaria meets all the criteria to become the 21st member of the euro area. That’s obviously good news both for Bulgaria but also for the euro area as a whole, as the larger euro area shows its openness and attractiveness to Union members and also the strengthened international effect of the euro,” Dombrovskis said.

Asked whether any problems might be expected, the Commissioner responded that the decision is in the hands of member states. “Right now, the decision making is in the hands of member states. I’m optimistic, I don’t see any major issues coming but we will see it already in today’s Eurogroup discussions, followed by ECOFIN tomorrow, and the whole procedure is to be concluded by July 8,” he noted.

On Thursday, the Eurogroup is expected to recommend to the EU Economic and Financial Affairs Council (ECOFIN, all EU Finance Ministers) to approve a letter to the European Council, giving green light to Bulgaria to join the euro area. At the end of next week, the European Council will give its opinion, and on July 8, the European Parliament will vote on Bulgaria's eurozone accession. Then, the EU Council will proceed with the final vote so that the euro can be adopted in Bulgaria on January 1, 2026.