First Reactions from Brussels Following Positive Convergence Reports by the European Commission and European Central Bank on Bulgaria’s Euro Adoption

First reactions from Brussels after the positive convergence reports of the European Commission and the European Central Bank for the adoption of the euro in Bulgaria.

Bulgaria meets all four criteria, and the European Commission has proposed to start the procedure for the country’s entry into the Eurozone on January 1 next year. This will make Bulgaria the 21st member of the Eurozone.

• The reports of the European Commission and the ECB for the introduction of the euro in Bulgaria are positive

European Commission President Ursula von der Leyen congratulated Bulgaria on the positive reports. According to her, this is a significant advancement for the country on its path to joining the Eurozone. Von der Leyen also stated that adopting the single currency will strengthen the Bulgarian economy and bring benefits to both citizens and businesses. She concluded her statement by emphasizing that Bulgaria will now take its rightful place among the key structures of the Eurozone and that by adopting the euro, the country reaffirms its commitment to the European Union and its values.

The European Commissioner for the Economy, Valdis Dombrovskis, also offered his first comment, describing the positive reports for Bulgaria as a historic moment for the country. He noted that Sofia meets all the criteria to become the 21st member of the Eurozone.

According to Dombrovskis, the euro will mean more stable prices for Bulgarians, lower transaction fees, protection of savings, and increased investment in the country. The Commissioner also stressed the need for Bulgaria to continue pursuing policies for a competitive and sustainable economy.