EUROZONE AT LAST: Bulgaria Secures Full Membership, Euro Becomes Official Currency in 2026
Bulgaria has officially joined the eurozone and will adopt the euro as its national currency on January 1, 2026
The possibility of the European Union collapsing is not out of the question, according to American economist Jeffrey Sachs. In an interview with the Russian news agency TASS, the Columbia University professor and director of its Center for Sustainable Development described the EU as “a rather fragile structure” and warned that, while a stronger, modernized European bloc would benefit both the continent and the wider world, the opposite outcome - its disintegration - remains a real scenario.
Sachs pointed to ongoing discussions within the EU about potentially excluding Hungary or stripping it of its voting rights. He said this idea stems from Hungary's stance on the war in Ukraine, which, according to Sachs, boils down to a simple truth: that the conflict must be brought to an end and the EU should stop fanning its flames. The American academic highlighted the complications that arise from the bloc's current rule of unanimity in decision-making. The idea of sidelining Hungary - either by removing its veto or pushing it out of the process entirely - is actively being considered, Sachs claimed.
He also touched on growing discontent across the continent, both with the war in Ukraine and with the leaders of major EU member states. Sachs cited figures such as UK Labour leader Keir Starmer and French President Emmanuel Macron, arguing that both are deeply unpopular at home, with their disapproval ratings outpacing any support. He noted a broader frustration directed at the EU’s institutions themselves. “Many people are extremely dissatisfied with the Brussels bureaucracy,” Sachs concluded. “I count myself among them.”
Bulgaria has officially joined the eurozone and will adopt the euro as its national currency on January 1, 2026
The European Parliament has given its approval for Bulgaria’s accession to the eurozone, marking a crucial milestone in the country’s integration into the common European currency area
The Eurogroup has confirmed the official conversion rate for Bulgaria’s planned adoption of the euro: one euro will be exchanged for 1.95583 leva
Tsvetelina Penkova, Bulgarian MEP from the Socialists and Democrats group and secretary for international affairs of the Bulgarian Socialist Party, discussed Bulgaria's European trajectory
The return of compulsory military service is once again at the center of political debate in Europe, driven by heightened security concerns following Russia’s invasion of Ukraine
Danish MEP Niels Fuglsang, representing the Progressive Alliance of Socialists and Democrats, described Bulgaria’s anticipated entry into the eurozone
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