Bulgaria's Euro Transition: Opportunity or Challenge?

Igor Ruge, a hotel manager in Bansko, Bulgaria, expressed optimism as the European Commission approved Bulgaria's entry into the euro zone next year. This move is expected to boost tourism and investment for the country, which is currently the EU's poorest member.

Despite anticipated economic advantages like improved trade flows and a voice in the European Central Bank, skepticism clouds the transition. Issues such as corruption, income disparity, and political instability overshadow citizen confidence, with over half opposing the euro adoption as per a recent Eurobarometer poll.

The Bulgarian government has committed to preventing inflation-related practices and ensuring transparency throughout this currency shift. Yet, public dissent persists, with protests led by the far-right Revival Party highlighting fears of 'Euro colonialism' and economic hardships in rural areas, especially among the elderly and low-income individuals.

(With inputs from agencies.)