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Speech by Christine Lagarde, President of the ECB, at the high-level conference on “Bulgaria on the Doorstep of the Eurozone”, jointly organised by the Bulgarian Ministry of Finance and Българска народна банка (Bulgarian National Bank)
Sofia, 4 November 2025
On 1 January 2026 Bulgaria will adopt the euro as its currency. The change will happen in a single night, but it is the outcome of a much longer journey.
Bulgaria has long been part of Europe’s monetary story.
From the lev’s peg to the French franc in the late 19th century to its anchor to the Deutsche Mark in the late 20th century, the country has always looked towards Europe whenever it has had the freedom to choose its destiny.
Now, with the adoption of the euro, Bulgaria is taking the final step towards – and its rightful place at the heart of – Europe’s monetary union.
Yet every historic step brings questions, and sometimes fears.
Paìsiy Hilendàrski – soon to grace Bulgaria’s €2 coin…