The Euro - will Bulgaria join in 2025?

What are the odds of Bulgaria adopting the Euro? Bulgaria has an ambitious goal to adopt the euro by 2025. We will look at Bulgaria's journey towards meeting the Eurozone requirements (Convergence Criteria). From economic indicators, like inflation rates, and public debt to political hurdles and public opinion, we will look at everything! and at the end of the video we will determine what the odds are of Bulgaria joining next year. Prominant figures like Mariya Gabriel, Rumen Radev and Prime Minister Nikolai Denkov seem to think they can. There are currently 27 European Union Member States, of which 20 have adopted the Euro. That leaves 7 (Sweden, Denmark, Czech Republic, Poland, Romania, Bulgaria and Hungary) that are yet to join.

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[catalindeluxus]

I wish you my brothers the best, whether you choose Lev or Euro 🇷🇴🤝🇧🇬

[AltaSonix]

Man, these EU videos are so informative. I am very happy I found this channel a few months ago.

[stoyan.aleksandrov]

Bulgaria's parliament has 240 seats, not 220 as displayed in the video. Beside that, the video is precise and exhaustive on the topic

[razvanciobotaru]

Hope to make a complete series about The Euro, next to be Romania 🇷🇴 and Poland 🇵🇱.

[georgygeorgiev]

Well, technically Bulgaria did meet all the criteria before the Pandemic in the period 2017-2020. We had very low inflation rate at the time, but we still weren't accepted in the Eurozone due to lack of unanimous support by the other member states. It's more of a political decision than based on hard-set criteria. Just as the EU accession or the Shengen accession. The Greek crisis really made the Eurozone members wary of newcommers.

[McDonald_worker]

Hopefully btw thanks for the videos of Bulgaria 🇧🇬❤️❤️🇧🇬❤️🇧🇬

[skydriveslyte]

As a Bulgarian that wants the euro to be implemented as our new currency I can say that your videos are very entertaining and nice to watch. Whenever I see you post anything related to Eurozone I always watch it no matter what im doing.

[Player-remo]

As a Romanian I congratulate the Bulgarians for their progress! I hope my country will enter the Euro zone as well, when time is right.

[pauluk]

I think as more countries join the Euro, it's going to push the holdouts to join at some point, after all, from an economic point of view, it could be seen as a disadvantage to not join for the countries holding out because investment would likely steer towards Euro Zone countries because of stability and the currency rate being the same over a wider range of people.

None Euro countries could mirror the policies of the Euro, but if they keep doing that, you have to wonder, why not join altogether?

Either way, if you were a company investing in the EU, you're more likely going to want to invest in a Euro country because it serves a bigger population of consumers without having to worry about currency fluctuations, which puts pressure on none Euro countries to mirror the exchange rate and policies of the Euro to be more enticing to investors, especially big investments that aim to sell Europe wide, the Euro Zone countries make more sense, with the exception of the developing EU countries in the east, which cheaper labour will still entice investment, but that won't last as they develop, so over the long run, I suspect all EU countries will join the Euro as it's likely going to be more difficult to stay out as more join it, especially as the majority of the EU is already Euro Zone centric.

Anyway, inflation in Bulgaria does seem to be going down overtime, but public views and political stability could be a hold up for Bulgaria joining the Euro, but overall, things are in a good state for them joining before 2030, but I doubt they will join in 2025 because there are too many hurdles to overcome, but the odds are good for them joining before 2030.

[amog]

Thank you, very informative. Ironically, nobody in Bulgaria has ever explained it properly. They are too busy arguing if the prices will go up if we get accepted into the Eurozone. You say that 49% support it, but from what i can see, it looks more like 30% in favor. People are afraid that there will be a lot of speculation with the prices and are giving Croatia as an example. I am undecided myself, honestly

[Данті]

I asked this question below the last post and here is my answer) Thanks I will enjoy this video

[looseycanon]

I wonder... Are the criteria really necessary these days. I'm Czech. I, unlike most people around here, want Euro and see, how we're effectively becoming dual-currency economy with businesses being given under certain conditions the right to have their books in Euros as primary currency, pay their obligation to the state in Euros and there is proposal for partial salary payments in Euros on the books right now, even businesses are starting to trade with each other in Euros, primarily using Crowns for salaries and taxes... but we don't fit the criteria. So, I wonder, would it be practical to demand adherence to the criteria, if say 60% of domestic trade were to be denominated in Euro? What if an economy shifts currencies by itself?

[Adam-]

I appreciate your usage of the word "criterion".

[zeronzentroxus]

I don’t say that using a more flexible currency is bad, but learning from Greece, Romania and Bulgaria might be better off staying as they are, slowly growing their economies. Sure, Romania has higher inflation rate, around 7%, but that’s because of the radical 700% growth in overall GDP, and the same for Bulgaria with 300% in the past 20 years.

[hrast]

As a Bulgarian, I don't see it happening with the current political crisis

[jecephd]

Beautiful illustrated and informative Video! It would be interesting to see a video from you on Sweden's situation. Especially how and why they are able to keep "dodging" the euro area.

[The_Engineerr]

In 2025: Welp, Bulgaria will join the euro zone in 2026
in 2026: Perhaps it will be 2027
in 2027: Bulgaria will surely join in 2028..

[ИванИванов-тыт]

u must ask the people, as we dont want the euro to replace the LEV ! i dont mind to have them both but Levs to be the main. i will accept euros, no worries !

[andreimircea]

Honestly, I hope Bulgaria will join the eurozone in january of 2025! I know for a fact that they truly worked hard and put in the effort to do so and deserve this victory.

[Adarnan-fziz]

Can you make a similar video regarding Romania's progress towards Euro adoption ?