The European Council published remarks following a Eurogroup meeting that covered Bulgaria’s euro changeover, preparations for the 2026 euro area policy recommendations, and the process to fill the European Central Bank Vice-President vacancy. The Eurogroup endorsed Boris Vujčić, Governor of the Croatian National Bank, for the role, with the European Council slated to take the final appointment decision after the required consultations. Bulgaria has used euro banknotes and coins as legal tender since 1 January 2026, bringing the euro area to 21 member countries. On euro area governance, ministers discussed the European Commission’s proposal for the 2026 euro area recommendations, focusing on competitiveness, resilience, and macroeconomic and financial stability, and also reviewed recent G7 discussions including priorities under the French presidency and a US Treasury-convened ministerial on critical raw materials. Work on finalising the euro area recommendations will now move to deputies and experts ahead of agreement at the Eurogroup’s February meeting. For the ECB Vice-President appointment, the Eurogroup chair will brief the Economic and Financial Affairs Council, after which the Council’s formal recommendation process will proceed, with the European Council taking the final decision following consultation with the ECB and the European Parliament; the timeline indicated is for Vujčić to take up the post from 1 June 2026.
European Council 2026-01-19
European Council outlines next steps for ECB Vice-President appointment after Eurogroup endorses Boris Vujčić
The European Council released remarks from a Eurogroup meeting on Bulgaria's euro adoption, 2026 euro area policy recommendations, and the European Central Bank Vice-President vacancy. The Eurogroup endorsed Boris Vujčić, Governor of the Croatian National Bank, for the Vice-President role, with the European Council to decide post-consultations. Bulgaria's adoption of the euro increases the euro area to 21 member countries.