End of an Era: Bulgaria’s 28 Years Under the Currency Board and the Road to the Euro

On July 1, Bulgaria marks the final anniversary of its currency board arrangement, a system in place for 28 years that is set to conclude with the country’s anticipated entry into the eurozone on January 1, 2026, BGNES reported. This transition will mark the completion of Bulgaria’s long path toward deeper European integration, underscoring a major milestone in the nation’s economic history.

The currency board was introduced on July 1, 1997, when the Bulgarian lev was pegged to the German mark at a fixed rate of 1,000 levs per mark....