Bulgaria adopts euro, joins Europe’s 21-nation currency club

Bulgaria officially became the 21st member of the eurozone on Thursday, January 1, as celebrations erupted in Sofia with fireworks and cheering crowds outside the central bank.

The historic moment was highlighted by a countdown displayed on the facade of the Bulgarian Central Bank, followed by images of the new Bulgarian euro coins alongside the European Union flag.

People gathered in the square next to the central bank to celebrate both New Year’s Day and Bulgaria’s adoption of the euro. Many expressed optimism about the change. Marketing researcher Ivaylo Sotirov said the move represents “the last part of our integration into the European Union.”

Jeweler Antonia Tsvetkova welcomed the currency switch, noting that travelers would no longer face exchange problems and that shop owners were already prepared to accept the Bulgarian lev and give euros as change.

Bulgaria joined the eurozone despite opposition from half of its electorate, leaving only a few countries in the 27-member European Union yet to adopt the currency.

Although public support for the euro is high in some of the remaining countries, including Hungary, eurosceptic parties in government and parliament are likely to limit further expansion of the currency zone in the foreseeable future.

-Production: Spasiyana Sergieva; Stoyan Nenov, Malgorzata Wojtunik/Reuters