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LAST UPDATE | 8 Jul
EUROPEAN FINANCE MINISTERS have approved Bulgaria as the 21st member of the Eurozone.
Bulgaria, which uses the Bulgarian Lev, will adopt the Euro on 1 January 2026.
The country’s path to join the eurozone has had a stormy political backdrop, with seven elections in the last three years.
Many Bulgarians are against switching to the euro, over concerns it will lead to a rise in the cost of living. Proponents believe the move will help improve the country’s economy and citizens’ lives.
Speaking to reporters in Brussels this morning, Bulgarian finance minister Temenuzhka Petkova said her country’s government expects “full support” from all member states.
Petkova, who is also the country’s deputy prime minister, added: “We are on the verge of realising a strategic goal for our country.”
It was adopted by finance ministers from EU member states, including Ireland, just before lunchtime this morning.
Croatia was the last country to join in 2023, bringing the total to 20. Bulgaria wanted to adopt the euro sooner, but the EU said its inflation was too high to meet the necessary criteria. It came at a period of high inflation for many member states.
EU states that want to join the single currency must demonstrate that their economy has converged with other eurozone countries and that they have their finances under control. The current conversion rate is 1 Lev to 0.51c.
With reporting from AFP
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Under paid defence soldiers to the rescue, no overtime, no thanks, and then the moners we don’t need an army/aircorps not until something goes wrong, great work all
@Big Haus: Civil Defence were there (as usual) and they do what they do for free…. makes your moan about being underpaid and no overtime look a bit stupid!
@Simon Sterne: It is not a competition. The Civil Defence are also volunteers and come when available, whereas, the military are there 24/7.
We do however make a great team when we work together, along with other agencies.
Comments allowed on this local issue, important to the local people but hardly life threatening. Meanwhile a country in the Middle East is pursuing the Final Solution against a defenceless population.
That little child will always have memories of taking a dinghy ride during the flooding in 23′
The river is a symbol of life, time and death.
Midleton is my local town and Castlemartyr just up the road. This is devastating and the impact on some businesses in Midleton is going to be terrible. And to think this is just after mid October is very worrying. Having lived in the area for a decade January is usually the worst time for these floods here.
Lived in Midleton many years ago as a farm apprentice.Nice people nice town.Had a great county councillor called Noel Collins who did wonderfull work at a time when councillors werent paid .
Well the good thing is the Government will announce at least €16million this morning to help in the clean up and repair works. That the least you’d expect. they sent €16m to Gaza yesterday that no one asked them for. The EU, which we are supposed to be a part of, was already coordinating an aid package. Obviously not good enough for our guys.
I’m too early for the Israel/Palestine comments.
@John Brennan: From the river to the sea Midleton Rare is going free!
Salut!
Sorry i muted Garys comments by mistake.
have your say