Overview
- Bulgaria becomes the eurozone’s 21st member on New Year’s Day, with lev and euro payments accepted through January 31 before euro-only transactions begin.
- EU and ECB leaders expect only a modest, short-lived price effect, and cite gains such as smoother trade, lower financing costs and exchange-fee savings for small businesses.
- Polling shows a near-even split on euro adoption as concerns about price rises persist, particularly among older and rural residents who back campaigns to keep the lev.
- Investigations and EU officials report Russian-linked social media operations working to erode confidence in the euro during the sensitive transition period.
- The switch occurs as political instability intensifies following Prime Minister Rosen Zhelyazkov’s December 11 resignation, raising the prospect of another snap election and potential delays to reforms.