**SOFIA, BULGARIA –** Bulgaria has officially transitioned to the euro, becoming the 21st member of the eurozone and ushering in a new monetary era. The move signifies a profound step in the nation's integration with the European Union, supplanting the Bulgarian lev, which had been pegged to European currencies for over two decades. This momentous shift, however, is not universally celebrated, with a palpable divide emerging within the population between those who view it as a harbinger of economic prosperity and those who harbour deep-seated anxieties.
The adoption of the single currency culminates a long-held aspiration for Bulgaria, following its accession to NATO and the EU, and its inclusion in the Schengen Area. For years, the lev’s stability, initially tethered to the Deutschmark and subsequently to the euro, served as a de facto prelude to this full integration. This latest development is framed by proponents as the natural progression of Bulgaria's commitment to European alignment, promising greater economic cohesion and potentially attracting increased foreign investment. President Rumen Radev and Prime Minister Rosen Zhelyazkov have both articulated the strategic importance of this transition in solidifying Bulgaria's position within the European economic architecture.
However, the jubilant pronouncements from official circles are met with a decidedly more reserved sentiment on the ground. The replacement of the national currency, a tangible symbol of sovereignty for many, has ignited a potent mix of fear and resentment. This underlying unease is exacerbated by Bulgaria’s prevailing economic conditions and a backdrop of persistent political instability. The nation, often cited as the European Union's poorest, has endured a tumultuous period, marked by frequent elections—seven in the past four years, with an eighth anticipated early next year. This political flux has undoubtedly cast a shadow over the euro adoption process, contributing to public uncertainty.
Todor, a 50-year-old proprietor of a small business in the picturesque central town of Gabrovo, nestled in the foothills of the Balkan Mountains, encapsulates this apprehension. "I don't want the euro, and I don't like the way it has been imposed on us," he stated unequivocally to the BBC. "If there were a referendum, I reckon 70% of the people would vote against it." His sentiments are echoed by others who fear a potential surge in prices and a decline in their purchasing power, despite assurances from authorities that such fears are unfounded. Some business owners, like Todor, report a noticeable downturn in sales, which they attribute, at least in part, to consumer apprehension surrounding the currency change. The recent confidence vote on the coalition government led by Prime Minister Rosen Zhelyazkov and widespread protests against the proposed 2026 budget further underscore the prevailing mood of dissent and economic anxiety that complicates this significant national undertaking.
As Bulgaria navigates this profound economic and symbolic transition, the coming months will be crucial in determining whether the euro indeed ushers in the anticipated era of enhanced prosperity and European integration, or if the lingering apprehensions of its citizens will prove to be a more enduring feature of this new monetary landscape. The nation's journey into the eurozone is intrinsically linked to its broader quest for economic stability and a more secure future within the European mainstream.