Prime Minister Rossen Jeliazkov assures ECB President: Euro stands for confidence and our European identity

Prime Minister Rossen Jeliazkov assures ECB President: Euro stands for confidence and our European identity

04.11.2025

"The Euro is more than a currency - it stands for confidence, security and our European identity. Bulgaria is not just adopting the Euro; our nation gains reputation as being part of the heart of Europe." This was stated by Prime Minister Rossen Jeliazkov at his meeting with the President of the European Central Bank (ECB) Christine Lagarde. The Prime Minister expressed his conviction that despite the challenges in the fiscal area, the country will face them with realism and responsibility just as Bulgaria approaches its European commitments. The meeting was attended by the Governor of the Bulgarian National Bank (BNB) Dimitar Radev.

The Prime Minister emphasized that Bulgaria's accession to the Eurozone is both a responsibility and a privilege. "It is a responsibility as it requires discipline and predictability, and a privilege as it brings Bulgaria into a community that stands for stability, trust and security," Rossen Jeliazkov noted. The Prime Minister pointed out that the cabinet views the accession process as a logical and historic step in the country's development and its full involvement into European economic and financial institutions.

At the meeting it was noted that the Bulgarian National Bank and the cabinet operate in constant coordination with the European Central Bank and with the European Commission. The country's banking sector is now integrated into the frame of the Single Supervisory Mechanism (SSM) which ensures a high level of preparedness and coordination of the procedures concerning the adoption of the Euro. The Prime Minister emphasized to Ms. Christine Lagarde that the guiding principle of the 2026 budget is financial stability and predictability of public finances.

ECB President Christine Lagarde was firm that Bulgaria's accession to the Eurozone will bring significant economic benefits - lower costs for the businesses, increased investment and stronger financial security for the country.

Prime Minister Rossen Jeliazkov emphasized, correspondingly, the importance of public confidence and of active communication in the process of accession to the Eurozone. The effect sought is to persuade Bulgarian citizens to perceive the Euro as an instrument of stability and new opportunities and not as a risk. In this context, the cabinet and the BNB will continue the awareness campaign and strengthen consumer protection measures in the transitional period.

In conclusion, the Prime Minister and the ECB President reiterated their mutual willingness to have close cooperation and emphasized that Bulgaria is on the final leg of the race to its full Eurozone membership from 1 January 2026.