The Eurogroup has endorsed a recommendation from euro area member states to the Council of the European Union that Bulgaria introduce the euro on 1 January 2026, following positive assessments by the European Commission and the European Central Bank (ECB) that Bulgaria meets the convergence criteria. The recommendation is framed as the first step toward the Council adopting the legal acts needed for Bulgaria to join the euro area and use the euro as its official currency from 2026. The Economic and Financial Affairs Council (Ecofin) is set to adopt the recommendation at its 20 June 2025 meeting by a qualified majority of euro area member states, and is expected to endorse a letter from the Ecofin Council President to the European Council. The European Council will discuss the matter on 26–27 June, before the process concludes with the Council adopting three legal acts, after consulting the European Parliament and the ECB, with adoption expected in July.
European Council 2025-06-19
European Council outlines next steps after the Eurogroup backs Bulgaria’s euro adoption on 1 January 2026
The Eurogroup endorsed Bulgaria's adoption of the euro on 1 January 2026, following positive assessments by the European Commission and ECB. The Economic and Financial Affairs Council will adopt this recommendation on 20 June 2025, with the European Council discussing it on 26–27 June. The process concludes with three legal acts in July, after consultations with the European Parliament and ECB.