🇧🇬🇪🇺 On January 1, 2026, Bulgaria becomes the 21st member of the eurozone, marking a historic milestone in European integration. In this LinkedIn video, ECB President Christine Lagarde celebrates this major event with a message of optimism and solidarity.
"The wait is almost over," Lagarde declares, emphasizing that this transition represents far more than a simple currency change. Bulgaria's euro adoption strengthens commercial exchanges, facilitates cross-border movement, and consolidates financial stability across Europe.
This accession crowns a rigorous multi-year process. After joining the European Exchange Rate Mechanism II in July 2020 alongside Croatia, Bulgaria demonstrated its capacity to meet all economic convergence criteria. On July 8, 2025, the EU Council adopted three final legislative acts authorizing euro introduction at an official conversion rate of 1.95583 lev per euro.
For Bulgaria, this transition brings substantial prosperity and economic security benefits. With 65% of exports destined for the EU and 45% for the eurozone, the country will eliminate remaining monetary barriers within the single market. Expanded access to European capital markets will reduce financing costs and provide greater stability for long-term investments. Rating agencies have already upgraded Bulgaria's sovereign rating in anticipation of these positive effects.
Beyond economic gains, eurozone membership grants Bulgaria a full voice within the ECB Governing Council. Bulgaria's National Bank Governor will now participate in decisions shaping the world's third-largest economy, transforming from passive follower to sovereign actor in European monetary policy.
Lagarde's video underscores her commitment to eurozone enlargement and her vision of a united, resilient Europe facing external shocks in an increasingly volatile world. The euro symbolizes solidarity, stability, and shared ambition for the continent.