Bulgaria, the poorest member state of the European Union, may adopt the euro on January 1, 2026. But is the country ready for the euro? And are Bulgarians ready to give up the lev as their currency?
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00:01Nevena owns a bakery in Zofia, the capital of Bulgaria.
00:04She is certain that her country will adopt the euro on January 1st, 2026.
00:09I'm holding up.
00:11Although it will be difficult, I don't say it will be difficult,
00:14especially for a small business as mine.
00:18Nevena's biggest fears are rising prices and speculation.
00:22In Bulgaria, every change lies in the economy.
00:28There is an uncertainty.
00:30For me, it will be 40 families.
00:35According to a survey conducted in February by polling agency MIARA,
00:3925,7% of Bulgarians support the adoption of the euro next year.
00:4430,8% are in favor of the euro, but want the change to come later.
00:49And 41,4% oppose replacing Bulgaria's currency, the LEV, altogether.
00:55These figures have remained almost completely unchanged in recent years.
00:59This is an old society.
01:00This society is traditionally fighting from the old.
01:03It is also called nostalgia to the expected times of national power.
01:10The third major reason is fear of price hikes.
01:13We picked up on these sentiments at the metro station called European Union in Zofia.
01:19In the future, I'm against.
01:21I won't be ready yet.
01:22There will be 100% higher inflation.
01:24I'm against.
01:25We actually don't want.
01:26We have a good flag, Bulgarian, good money.
01:28I'm against.
01:29I've lived a lot in Germany.
01:31I've lived there, as the brand is changed, with euro.
01:34Everything is half an hour.
01:36The prices continue to grow.
01:38So no one can tell me the promises from 1100 to 1100,
01:41how good it would be to be.
01:43Skepticism is further fueled by fake news and the far right.
01:48They want a referendum on the euro, a proposal the Bulgarian parliament has rejected.
01:53At the end of February, one far right party organized a protest where red paint,
01:58Molotov cocktails and eggs were thrown at the European Commission's representation office in Zofia.
02:04But are these fears justified?
02:07We asked to Georgi Ganev, economist at the Center for Liberal Strategies in Zofia.
02:12As a Parisian regime, Bulgaria is ready for 1 July 1997.
02:19Because Bulgarian LEF is a representative of the German brand,
02:24which is after the euro.
02:27Today, Bulgarian interest rates already reflect what's happening in the eurozone.
02:32There is no reason to expect some serious inflation because of the euro.
02:38Because of the other, our other things.
02:41Because of which it would have happened without it.
02:43Bulgarian deposits will become much more safe.
02:47For the moment Bulgaria meets all the criteria for joining the eurozone.
02:50The European Commission's decision is expected this summer.
02:53Novena is ready for a yes.
02:57That speaks Nobel Peace, Enosis and Recon.
03:00Incense Albanians – the Cadent hrps community created byIGHLPA
03:15and Guatemala Cro·letal International Western Asia.
03:18Are you living in the eurozone?
03:20For our lifetime of sleep, we would see me everyday.