Core Viewpoint - The European Union has approved the final legal measures for Bulgaria to adopt the euro, marking its entry as the 21st member of the Eurozone starting January 1, 2026 [1] Group 1 - The announcement was made by the EU Council on July 8, confirming the approval of three legal bills necessary for Bulgaria's euro adoption [1] - One of the legal bills establishes the exchange rate between the euro and the Bulgarian lev at 1.96 levs per euro [1]

Group 1 - The European Council officially supports Bulgaria's introduction of the euro on January 1, 2026, making it the 21st member of the Eurozone [1] - The conclusion document states that Bulgaria has met all convergence criteria as stipulated in the treaty [1] - The European Council urges the Council of Ministers to expedite the passage of relevant legal texts for the euro adoption [1]

Group 1 - The European Central Bank has officially approved Bulgaria's application to adopt the euro, making it the 21st member of the Eurozone [1] - Bulgaria is set to start using the euro on January 1, 2026, marking a significant milestone for the Eurozone [1] - Bulgaria has met all the necessary economic convergence criteria, including price stability, public finance, exchange rate, and long-term interest rate standards [1] Group 2 - The European Commission's spring economic forecast predicts a 0.9% growth for the Eurozone in 2025 and a 1.4% growth in 2026, with recent forecasts being downgraded due to global trade uncertainties [2] - The international status of the Eurozone is expected to improve, with the euro potentially becoming a viable alternative to the US dollar amid increasing uncertainty in the dollar-based international monetary system [2] - The European Central Bank's president indicated that changes in the international order could provide opportunities for the euro to play a larger role on the global stage, provided that appropriate policies are implemented [2]

Core Points - The European Central Bank (ECB) has approved Bulgaria's adoption of the euro, confirming that the country meets all necessary criteria to do so by January 1, 2026 [1] - ECB Chief Economist Philip Lane stated that this positive assessment paves the way for Bulgaria to become the 21st member of the Eurozone [1] - The final decision on Bulgaria's euro adoption will depend on the approval of EU finance ministers, expected in early July [1] - Following the political process, Bulgarian central bank officials will be invited to join ECB institutions as observers until the formal adoption of the euro [1]

Core Viewpoint - Bulgaria is on track to join the Eurozone, potentially adopting the euro as early as January 1, 2026, following a report from the European Commission and the European Central Bank [1][2]. Group 1: Economic Implications - Bulgaria's accession to the Eurozone is expected to enhance trade relations with other EU countries, reduce transaction costs, and increase its influence within the EU [1]. - Currently, Bulgaria's currency, the lev, is pegged to the euro, but it lacks a voice in the European Central Bank's monetary policy as it is not yet a member [1]. - The country's GDP accounts for less than 1% of the EU total, which raises concerns about its limited influence in the European Central Bank's decision-making [2]. Group 2: Public Sentiment and Concerns - There are public concerns regarding potential price increases following the adoption of the euro, which could negatively impact the living standards of poorer families in rural areas [2]. - Some citizens remain skeptical about joining the Eurozone, with calls for a national referendum on the issue being dismissed as unconstitutional [2]. - Historical precedents from other countries that joined the Eurozone indicate that lower-priced countries may experience inflation as their prices align with higher Eurozone averages [2]. Group 3: Eurozone Expansion Context - Since its establishment in 1999, the Eurozone has been expanding eastward, with Croatia being the most recent member to adopt the euro on January 1, 2023 [2]. - Currently, seven EU member states, including Bulgaria, are not part of the Eurozone [3].