Source: Foundation for Economic Education
by Jake Scott
“At the stroke of midnight on January 1, 2026, the facade of the Bulgarian National Bank in Sofia was lit up with the display of a golden Euro coin. Crowds gathered in sub-zero temperatures to watch the Bulgarian lev — meaning ‘lion,’ the state currency since 1880 — relegated to history. By morning, Bulgaria had become the Eurozone’s 21st member state: a decision which, at first glance, appears nothing more than a technical monetary change. But any change as momentous as this is loaded with deep historical symbolism, economic consequences, and political tensions within the European Union (EU). As a result, whether this change is also a wise one is a live debate.” (03/11/26)