Overview
- Queues formed at Bulgaria’s central bank and exchange bureaus as residents sought euros, with complaints about limited cash and shortages of merchant starter packs.
- Banks warned of temporary card and ATM disruptions around New Year’s night and advised customers to carry cash, while lev payments will still be accepted through January with change in euros.
- The changeover follows months of political turmoil that toppled the coalition government and set up yet another election cycle, with surveys showing about 49% of Bulgarians oppose the switch.
- Inflation fears persist after food prices rose roughly 5% year over year in November, though parliament strengthened oversight to deter unjustified price hikes linked to the conversion.
- EU leaders say the long-term benefits will outweigh short-term frictions, with Ursula von der Leyen touting concrete gains and Christine Lagarde calling past price effects modest and short-lived.