Bulgaria and the Euro

Good morning/evening
 
Today I am writing about Bulgaria and its transition to the Euro Currency on January 1st, 2026. It may seem sudden, but it has been planned for a long time. There have been delays due to corruption among other things. Now don't get me wrong, even though it has its faults I love it here and as for corruption that is everywhere. I am no fan of the EU, they are unelected and some of their policies don't sit well with me but I don't fancy moving either.
 
The latest coalition government has lost a confidence vote on December 11th after mass protests against the proposed budget, so it looks like there will be another election soon and this will be the 8th in 4 years! Too little too late so now we have the Euro as currency too. There were promises that there would be no steep increases in prices and all (well most) shops have been required to display prices in both currencies. There have already been issues.
 
Price impacts

• Vending machines (of which there are many) a coffee that was 0.80st is now 0.80c or in USD from $0.46 to $0.94 seems steep to me!
• Parking from 5 lev to 5 Euro or from $3.00 to $5.84.
• A well known pizza shop getting the conversion completely wrong and instead of dividing it by 2 they multiplied it by 2 (2 lev is approx 1 Euro)
• Cheddar cheese (200g) went up 2 lev overnight or $1.20.

 
Chaos
You can pay in either currency until the end of January, but you are supposed to get your change in Euros, the only problem there is that no one has any small notes or coinage, not even the shops, so I have seen many people just walk out without their goods. We have many shops here that do not take card payments so it has been a bit of a problem. There have also been instances where people have Euros from other countries that are not being accepted here, even though they should be! The lady in the post office is in tears because the queues are huge, everything is taking longer and people are shouting at her, but yes the preparations have been ongoing for years!
 

 
Political instability
This instability has made consistent policy almost impossible. Meeting EU criteria, whether fiscal discipline, institutional reform, or long-term planning requires steady leadership. Bulgaria has had anything but that. The government spent months insisting that the euro would raise living standards over time, bringing stability, investment, and prosperity but the final straw for many people was the proposed austerity budget. Hefty tax rises, combined with perceptions of corruption, pushed thousands into the streets in all the cities.
 
There have been many stories about EU funds going to projects that just did not happen like the 'innovative farm for cultivated black mussels' and for the implementation of the project, the beneficiary received the amount of €280 230!
I have bought honey from an EU funded 'honey farm and shop'. The guy was happy to tell me his new house build was funded and he just has the bee hives in his garden (quite common here) and a little wooden window where you pay for the honey.
A funded public swimming pool in the village, that stayed open as a business for the required 3 years and has been closed ever since.
 
An earlier research by the Center for the Study of Democracy uncovered another alarming aspect of Bulgaria’s corruption, approximately 15% of the funds received from the EU are embezzled. The siphoning of EU funds is considered among the main revenue streams of organised crime groups in the country, so I guess some people have made use of the EU grants!
 
The reality

Bulgaria remains the poorest country in the EU by GDP per capita. Wages are low, regional inequality is stark, and public services often feel underfunded. Inflation in recent years has hit households hard, particularly pensioners and those outside major cities and the reality is far worse in villages and small towns. Meeting EU climate goals will be absurdly difficult. Most Bulgarian homes still have 'Pechkas' or wood burning stoves, those old refrigerators with strict guidelines on disposal returning old units to sellers or designated recycling centers for specialized treatment, mandatory under directives, to safely extract harmful CFCs/HFCs and blowing agents from the cooling circuit and insulation foam, preventing their release as potent greenhouse gases and ozone are just sat in a field!
My neighbour was offered money to dispose of old batteries in her garden, dig a hole and just put them in, the government official told her, she declined but I am sure others will take up the offer.
The older cars with higher emissions from 1st world European countries are sold here, and what happens when you go for an MOT, well the inspector just moves the machine until the reading is 'OK'. So how this country is suppose to have only electric cars is beyond me, I live in a village, my nearest town is 15km away and that has no electric charging stations, my nearest city 40km away on a road so poorly made that you can go no faster than 30km per hour has 2 charging points outside the DIY shop, but there are charging stations in Burgas and major cities!

So with all this said, yes Bulgaria may well now be an EU member and we will just have to see how it goes, I am aware that I am a migrant here and I had to sign a document to that effect that stated I would not claim benefits here, NRPF No Recourse to Public Funds (not a bad idea, perhaps other Countries should try that) as I have a 10 year residents visa, if I did claim benefits it could affect my visa renewal. It is not perfect here but it is the place I call home and even with all its faults, there are worse places to live. Taking the Euro as currency is the last step in a process that has been ongoing for many years and I just hope this beautiful and diverse country manages to keep at least some of its identity.
 
Sorry if this sounds like a bit of a rant lol, what are your thoughts? As always thank you for reading and please feel free to comment.