Bulgaria's accession to the eurozone is a powerful symbol, writes Etienne Gernel of the French radio RTL in an editorial. This small country, once a member of the Warsaw Pact, will adopt the euro on January 1, 2026, thus strengthening Europe against Russian influence.
This was confirmed on Tuesday, July 8, by the European Union's finance ministers: Bulgaria will become the 21st member of the eurozone from January 1, 2026 - a truly symbolic event.
There can be more than just bad news in the world - and this is good news. As Russian troops advance in Ukraine, Europe has scored a small but significant symbolic victory against Vladimir Putin’s attempts to reestablish the sphere of influence of the former Soviet empire.
Yes, Bulgaria is a small country of 6.5 million people and will be the poorest economy in the eurozone. But it carries symbolism. It is a former Warsaw Pact country where Russian influence remains palpable – including in politics.
Bulgaria is located on the Black Sea, next to Ukraine and Russia. It is the only country in the EU that uses the Cyrillic alphabet. Bulgarians will proudly say that they invented it – another symbol.
A choice that strengthens Europe
Yet not all Bulgarians are thrilled with the choice. According to polls, half of the population opposes the introduction of the euro - mostly the nationalist and pro-Russian opposition, which repeats the message: "The euro means inflation".
Bulgaria is one of the many political battlegrounds in Eastern Europe, where Russian influence divides public opinion. For a country that gained independence from the Ottoman Empire in 1908 and freed itself from Soviet influence in 1989, today's choice is an affirmation of its European path - a political decision that strengthens not only Europe, but also the euro itself.
For many years, the euro was a cause for skepticism: the debt crisis, the situation in Greece... Even in France, some politicians talked (and still talk, albeit more quietly) about leaving the eurozone.
The euro is on the rise
These days, the euro is on the rise. Donald Trump's economic unpredictability is weakening confidence in the dollar and at the same time strengthening confidence in the euro - even if it does not displace the dollar in the near future.
Bulgaria's accession to the eurozone has been in the works for a long time. Economically, this is not a grandiose event, but for both Moscow and Washington - it has serious symbolic weight.
"All the birds flew on the path of hope", Sylvie Vartan sang about her native Bulgaria, which she left as a teenager. Today, however, there is no need for exile - Bulgaria is completely and entirely part of Europe.