SOFIA, Dec 29 (LatestNewsX) – Across Bulgaria, banks, businesses, and shoppers are preparing to bid farewell to the lev as the country gets ready to adopt the euro on January 1. The long-anticipated move has sparked a mix of excitement, skepticism, and even anger among parts of the population.
The Black Sea nation, located on the European Union’s southeastern edge, is set to become the 21st country to join the euro zone after meeting the required criteria this year. These included targets on inflation, budget deficits, long-term borrowing costs, and exchange-rate stability.
Bulgaria’s entry comes two years after Croatia joined the euro in January 2023. Once Bulgaria makes the switch, the number of people using the common currency across Europe will rise to more than 350 million. Membership also brings influence, giving the country a seat on the European Central Bank’s Governing Council, which sets interest rates.
Although Bulgarian governments have pushed for euro adoption ever since the country joined the EU in 2007, public opinion remains divided. Surveys show that while many businesses support the change, a significant portion of the population remains unconvinced.
Doubts and Fears Among the Public
Some Bulgarians worry that switching to the euro will drive up prices, while others distrust the political leadership amid ongoing instability. The government stepped down earlier this month following mass protests over proposed tax hikes, deepening concerns around the transition.
Skepticism is also shaped by Bulgaria’s long-standing cultural and political ties with Russia, with some citizens uneasy about moving closer to Europe.
“I am against it, first because the lev is our national currency,” said Sofia pensioner Emil Ivanov while shopping. Secondly, Europe is heading towards demise, which even the American president (Donald Trump) mentioned in the new national security strategy.
“I may not be alive when this (the EU’s demise) happens but that is where everything is going.”
Political analysts say the public campaign explaining the euro transition has been weak. They warn that elderly citizens, particularly those in rural areas, may struggle with the change, while the lack of a stable government could add further complications.
Businesses Move Ahead With Preparations
Despite the public debate, signs of preparation are visible across Sofia. Shops now display prices in both levs and euros, from groceries to wine. Government-backed billboards show the fixed exchange rate alongside the message: “Common past. Common future. Common currency.” Television advertisements have also been rolled out to raise awareness.
Some residents are welcoming the shift. “Not only older people but also all young people can easily travel using euros instead of having to exchange currency,” said Veselina Apostovlova, another pensioner shopping in the capital.
Export-oriented businesses have been especially supportive. Natalia Gadjeva, who owns the Dragomir Estate Winery in the Thracian Valley, said the change would simplify daily operations.
“For me, the most important thing is that all operations involving currency conversion and reissuing invoices in euros and then in levs will be eliminated,” she told.
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