European Parliament Approves Bulgaria's Entry into the Eurozone

The European Parliament has approved Bulgaria’s accession to the eurozone. A total of 531 Members of the European Parliament (MEPs) voted in favor, 69 opposed, and 79 abstained.

At the beginning of the procedure, Rada Laykova, an MEP from the nationalist “Vazrazhdane” party, attempted to block the vote, arguing that the rapporteur on Bulgaria’s file was a member of the country’s ruling party. Her motion was overwhelmingly rejected.

The vote in the European Parliament sends a clear signal: pro-European forces hold the majority, and far-right factions do not dominate this historic moment for Bulgaria.

“The report we are considering today is one of three critical documents outlining Bulgaria’s future in the eurozone,” said EPP MEP Eva Maydell during her speech in Strasbourg. “Previous convergence reports from the European Central Bank and the European Commission clearly show that Bulgaria is ready to join the eurozone as of January 1, 2026, and meets all required criteria."

"Let us not forget that Bulgaria has been on this path for over two decades—from the Currency Board introduced in 1997 to full participation in ERM II. The facts speak for themselves. National legislation is fully aligned with EU requirements. Price stability has been achieved, with inflation below the reference value. Public finances are stable, with deficit and debt levels meeting the required thresholds. The national currency has maintained a stable exchange rate within ERM II for more than the necessary two years."

“While this report may seem technical to the average Bulgarian from any of the past three generations, it means so much more. From those who stood in the squares in 1989 to peacefully bring down the communist regime, to those who endured the currency crisis in 1997, to today’s young people who call Europe their home—Adopting the euro is achieving the European dream for them in all its fullness. We owe it to all of them to approve this report. Bulgaria is ready. Europe is ready. Let us take this step together,” Maydell concluded.

At 1:00 PM today, July 8, BNT 1 launched a special broadcast titled “Bulgaria and the Euro,” dedicated to the final approval procedures for Bulgaria’s entry into the eurozone. The program is hosted by Nadya Obretenova.

The special segment will cover both key votes—the one in the European Parliament in Strasbourg and the upcoming vote by the finance ministers of the 27 EU member states in Brussels. It will also feature initial reactions from MEP Eva Maydell, Finance Minister Temenuzhka Petkova, EU Commissioner Ekaterina Zaharieva, and other MEPs.

From Sofia, exclusive commentary will be provided by Bulgarian National Bank Deputy Governor Petar Chobanov, National Revenue Agency Head Rumen Spetsov, as well as prominent bankers and economists.