Bulgaria and the Euro: What Happens to National Monetary Sovereignty?
One of the most debated topics around Bulgaria’s upcoming transition from the lev to the euro is whether the country is giving up its sovereignty
Europe is expanding its artificial intelligence infrastructure with the addition of six new AI factories aimed at boosting innovation and technological leadership. Austria, Bulgaria, France, Germany, Poland, and Slovenia have been chosen to host these facilities as part of the EuroHPC Joint Undertaking’s latest initiative. The total investment, combining national and European funds, amounts to €485 million. These AI factories will provide start-ups and small and medium-sized enterprises (SMEs) with priority access to advanced computing resources, helping them grow and develop cutting-edge AI solutions.
This marks the second selection of AI factories, following the first round in December 2024, which saw seven sites chosen. The initiative is supported by Europe's high-performance computing network and aims to integrate computing power, data, and talent in a way that fosters large-scale AI model training and development. The focus is on ensuring AI systems are not only powerful but also reliable and ethical.
Bulgaria’s AI factory, known as "BRAIN++," will be based at Sofia Tech Park and will consist of two key elements. The first, "Discoverer++," is a next-generation supercomputer designed to handle the most demanding AI workloads. The second is a dedicated AI hub that will provide a range of services to government institutions, educational organizations, and private businesses. By establishing "BRAIN++," Bulgaria seeks to position itself as a regional leader in artificial intelligence and technological development.
This Bulgarian AI factory will be closely integrated with other AI hubs across Europe, working toward a unified European ecosystem that promotes ethical and responsible AI innovation.
The European Commission has confirmed that Bulgaria meets the inflation criterion necessary for joining the eurozone
At a meeting in Luxembourg on June 19, the finance ministers of EU member states unanimously endorsed the Eurogroup’s recommendation for Bulgaria to adopt the euro starting January 1, 2026
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The Eurogroup has given its full support for Bulgaria to join the eurozone
The convergence reports on Bulgaria, issued by the European Commission and the European Central Bank, are expected to receive broad support from all Eurozone countries
The TurkStream gas pipeline, which transits through Bulgaria on its way to the Western Balkans and Central Europ
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