The European Commission (EC) posted on July 8 a “question and answer” article, following the decision earlier in the day by EU finance and economy ministers to approve Bulgaria adopting the euro as its currency as of January 1 2026:
What decision did the Council take today?
The European Commission published its 2025 Convergence Report on 4 June 2025. The report confirmed that Bulgaria has met the criteria to adopt the euro on 1 January 2026. As a result of that assessment, the Commission adopted proposals for a Council Decision on Bulgaria adopting the euro and a Council Regulation to include Bulgaria in the list of countries that have adopted the euro as their national currency. At the end of June, the Commission also adopted a second proposal for a Council regulation that sets the conversion rate at which the national currency will be replaced by the euro.
Based on a recommendation by the euro area Ministers of Finance, consultations in the Economic and Financial Affairs Council (ECOFIN), the endorsement by
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