Weighing the Anchor: Bulgaria’s Entrance into the Eurozone

Commonly known as the Western Anchor, Bulgaria has officially adopted the Euro and become a member of the Eurozone. The European Central Bank (ECB) can finally welcome Bulgaria as an official member as of January 1, 2026, carrying the weight of the anchor to new and more democratic heights. Becoming a member of the European Union in 2007, alongside Romania, further solidifies the formidable barrier that aims to contain the Putin War Machine in Moscow. Leaving the Lev behind has surely left some skeptics in fear that the adoption will only further inflate rising costs with stagnating wages.

As the raging multipolar world is fanning the flames of conflict, it requires a deep appreciation for wins where they can happen, and for Bulgaria, I believe it is a big win. Although the risks of currency adoption can feel unsettling, the robust solidarity of the European Union grows ever more crucial, wedged maliciously between Putin and Trump. The profound echoes of this adoption will resound loudly against the reckless violence from the Kremlin. Certainly not the hard power of Poland’s ‘Eastern Shield,’ this move still has the geopolitical sharpness and effect that will continue to deter the sphere of influence that Russia tries to wage in waves of hybrid warfare. 

Money-Power 

As many Bulgarians will recall the Bulgarian financial crisis of 1996-1997, the present fear surrounding the loss of savings, like the hyperinflation that drove the economy into disaster, will return with a vengeance at the change of the currency. This has been a strong entry-point for Russian propagandists who want to sow discord among sceptics. My favourite example is most likely the “Potato Myth,” suggesting that once Bulgaria adopted the Euro, its currency would be rendered worthless, forcing individuals to barter with potatoes. The battle to keep Bulgaria ambiguous on its European identity has been ongoing, following its EU ascendency and Euro adoption resolution.

Through means of Russian kleptocratic ownership and economic attacks on critical infrastructure, Bulgaria has suffered immensely from hybrid warfare directed by the Kremlin. This insidious tactic has chipped away at Bulgarian autonomy for decades and should symbolize the vehemence that Putin holds for his enemies; to join the EU and prosper would be another fatal blow to the hollow void of Putin’s power. While Bulgaria has begun the untangling of the “Potato Myth,” its neighbor to the north, Romania, is stuck in the sticky web of ultranationalism from The Alliance for the Union of Romanians (AUR). 

Troubled Siblings 

Romania and Bulgaria ascended to the European Union simultaneously in 2007, joining them at the hip symbolically for progress in the future. With Bulgaria cruising right by Romania, this is sure to increase the ‘mirror effect’ of encouraging Romania to continue diligently on its path to the Eurozone. As I previously covered the shaky finish to the Romanian presidential election, primarily focusing on Călin Georgescu, the AUR focuses heavily on nationalist and traditionalist values that evoke anti-Western sentiment. In my article, I discuss the very complex nature of maintaining Romanian progress while also balancing the pro-Kremlin attacks behind the AUR and Russian bots.

The most prevalent problem is corruption, just like its sister EU state. The independence of the Leu may reinforce the strong nationalist history shared by Romanians, but it also leaves the country vulnerable to Russia through tech and economic sabotage that has held it back from having a ‘seat at the table’ among the European Union. As Russia has historically been the axis of Orthodoxy in Eastern Europe, the motion to have Cyrillic and Saints such as John of Rila on the 1 Euro coin is an opportunity for the nations of Bulgaria and Romania to maintain their linguistic heritage and strong Christian faith. 

Prime Minister Ilie Bolojan has stated that his ‘Grand Coalition’ is committed to the austerity measures necessary to achieve its deficit target of 8.4% this year, stepping closer to the fiscal requirements of the European Central Bank. The reflective nature of Bulgaria’s Eurozone entry should catalyze Romanians concerned with the rise of the AUR and populist right, as the ‘heft’ of the European Central Bank is sure to reinforce Bulgarian assets against further Russian incursions. Thus, affirming the postwar notion that integration combats confrontation.

Cautious Success

The most infectious narrative pushed by the Kremlin suggests that Bulgaria will face the economic catastrophe of the Greek Financial Crisis of 2008, which is certainly burned into the memory of the continent. This event symbolises the duality of economic integration, especially when it comes to adding new members to the ECB. With integration comes intense responsibility, but Bulgaria has shown through its fiscal reports that it can handle the new, enhanced power. As many experts weigh in, the name of the game is vigilance to prevent such a deep tragedy from happening again, beginning with the responsible allocation of incoming funding and robust credit lines. The lacking aspect of Bulgaria’s future is a stronger economy that can grow to match its European counterparts in terms of standard of living and wages. One very optimistic channel for this will be Bulgaria’s automotive sector, which should receive a tremendous boost from streamlined supply chains and a fluid European market that doesn’t make exporting unbearable. 

Standing Together 

Although Putin and Trump would relish in more European economic disaster, in the same manner that Putin drove Europe further into NATO’s arms, so too is Donald Trump with his imperialistic abduction of Nicolás Maduro and sabre-rattling for Greenland. The European Union is closing ranks, with increasing adherence to international law among belligerent nations. Bulgaria has every reason to look forward to its future in the EU and its future in European defence, which has become incredibly necessary following the Trump administration’s National Security Strategy (NSS) in December. In creating its own shield, in solidarity with others among the EU, Bulgaria should prove to escape the cruelty of transactional policy that Trump and Putin are so happily dealing with their enemies. Another integrated member, Bulgaria, can stand firmly knowing it has the backing of allies, increasingly seasoned in the arts of combatting extremism. It is time to weigh the Western Anchor.

Illustration: Will Allen/Europinion