Bulgaria will join the eurozone. What do Bulgarians think about this?

Greta Neagu, Antena 1, July 22, 2025

Antena 1 reports from Ruse and Varna on Bulgaria’s accession to the eurozone. The report features the opinions of Milen Dobrev, president of the Ruse Chamber of Commerce and Industry, journalist Vladimir Mitev, and ordinary people—both supporters and skeptics of joining the eurozone. The Romanians featured in the report are Daniel Dăianu, head of the Fiscal Council, and Elena Calistru from Funky Citizens, presented as a budget expert. All these opinions are put into context by journalist Greta Neagu.

Producer:

Bulgaria is teaching us a lesson in ambition, but also in finance. In less than half a year, our southern neighbors will adopt the euro and join the so-called club of select economies. In the long term, all experts say that the advantages are immeasurable, incommensurable.

Romania is years away from this step.

At the European Parliament:

The vote is over. It’s adopted. Congratulations, Bulgaria!

Announcer:

The transition to the euro has divided Bulgaria in two. A month after the European Parliament gave Bulgaria the green light to adopt the euro, the population is speculating. Some dream that life will be better, while others expect the worst.

Pro-accession interviewee:

I agree that Bulgaria should join the eurozone. I think it’s good for young people. But also for older people.

Skeptical interviewee:

When a country loses its money, it becomes a colony. The current situation shows that inflation is already incredibly high, and the transition to the euro will raise prices even more.

Elena Calistru, budget expert:

They can definitely expect price increases. But the difference lies partly in how the population has been prepared for this shock (because it will be a shock). At this point, it may hurt a little more.

Greta Neagu:

In large stores, the transition has already begun. Prices on the shelves are displayed in both euros and leva.

Announcer:

From August 2025, dual pricing will be mandatory everywhere.

Vladimir Mitev, journalist:

There is concern among small traders. They are now in the process of learning how to respond to the requirements of joining the eurozone.

Greta Neagu:

Bulgaria. A country half the size of Romania in terms of area. And with a population three times smaller.

We set out together on the European path, but we parted ways somewhere along the way. On January 1, 2026, Bulgaria will join the eurozone. Romania will not. We have not yet met the necessary criteria. And we don’t know exactly when that will happen.

Elena Calistru, budget expert:

At this point, I think Romania needs at least 5-7 years, if we are to be very ambitious, to get back to discussing the fulfillment of these criteria.

Dictor:

To join the eurozone, a country must keep its inflation below 1.5 percentage points above the average of the three best-performing member states. It must have low deficits and low public debt. At the same time, the exchange rate must be stable and long-term interest rates must be no more than 2 percentage points above the average of the three best-performing EU countries.

Daniel Dăianu, President of the Fiscal Council:

If Romania has major problems with joining the eurozone, these are related to budgetary indiscipline. There must be such rigorous control that it no longer allows the entry of, let’s say, delinquents. A country with large deficits has no way of joining.

Announcer:

The history of financial discipline among our Bulgarian neighbors is a long one.

Daniel Dăianu, President of the Fiscal Council:

In the crisis of 1997, when the Bulgarians were desperate, there was a collapse of the financial system. From an institutional point of view, there was no credibility.

Then they resorted to an extremely strict regime, the Monetary Council, which is like a belt that suffocates you if you try to do more than you can.

Announcer:

With a strict plan, from which it has not deviated, Bulgaria is becoming the 21st member of a hard-to-enter financial core.

Milen Dobrev, Ruse Chamber of Commerce and Industry:

The expectation is that Bulgaria’s image and the conditions in which the country can do business will improve significantly. Of course, in the medium and long term.

Daniel Dăianu, President of the Fiscal Council:

And in the eurozone, too, there is not always happiness for everyone. There are countries with lower inflation in the eurozone, and there are countries with relatively high inflation.

Dictor:

And countries that teach us lessons, such as Bulgaria, a country that is basically among the poorest in the EU, but that does not stop it from promoting itself.

Greta Neagu:

And the Bulgarians, like us, have a beach on the same sea. What’s more, however, is a vision between the state and the private sector, which in 2024 alone brought them over 13 million foreign tourists. By comparison, our country received seven times fewer.

Announcer:

Over half a billion euros crossed the border into Bulgaria in 2024, with Romanians staying mainly in all-inclusive resorts by the sea. But most foreigners who come to Bulgaria are not Romanians, but Germans.

Greta Neagu:

Why did you choose to come here?

A tourist:

The beach. The atmosphere.

Daniel Dăianu:

It is not written that Romania will remain outside the eurozone. It will be able to join, but it must eliminate its very large deficits. Let’s reduce inflation and we will succeed.

Announcer:

Analysts expect Romania to take this step in 2035 at the earliest, a decade after Bulgaria.

Photo: In Brussels, Bulgarian Finance Minister Temenuzhka Petkova accepts the decision for Bulgaria to join the eurozone (source: YouTube)

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