SOFIA, Jan 1 (Reuters) – EU member Bulgaria marked its entry into the euro zone on Thursday with a display of euro coins on the facade of the central bank in Sofia and fireworks to celebrate a long-awaited milestone.
As of midnight the euro became the country’s currency and the lev was banished into history.
Bulgaria’s entry into the euro zone will take the number of Europeans using the currency to more than 350 million. The last country to join the single currency group was Croatia in January 2023.
“Our money will be in a different currency – if I have 10,000 leva, now I will have 5,100 euros. It’s all the same. And I think it will be better.” Stefan Bisterkov, a driving instructor, said.
Aside from changing currency, becoming the euro zone’s 21st member means Bulgaria gets a seat at the European Central Bank’s rate-setting Governing Council.
Successive Bulgarian governments have tried to make the step since the Balkan country of 6.7 million people joined the EU in 2007. Bulgarians are split on the issue, opinion polls show, although businesses are largely in favour.
“My expectations from (adopting) the euro are positive, I don’t think there will be anything to worry about, quite the opposite. We will only benefit from this, and it will only be more useful for us,” said Antonia Tsvetkova, a jeweller.
“Anyone who goes on a trip will not have problems exchanging currency, now everything will be normal.”
Some Bulgarians worry that using the euro will push up prices, or are suspicious of a domestic political establishment that is in crisis. The government stepped down last month amid widespread protests against proposed tax increases.
(Reporting by Stoyan Nenov and Spasiyana SergievaWriting by Ivana SekularacEditing by Frances Kerry)
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