Bulgaria Completes Approval Process for Euro Coin Designs (PHOTOS)

Finance | February 12, 2024, Monday // 21:00|  views

@Bulgarian National Bank

The Bulgarian National Bank (BNB) has marked a significant milestone in the nation's journey towards full integration into the Eurozone by finalizing the approval of the design for Bulgarian euro coins.

This crucial step underscores Bulgaria's readiness to adopt the euro as its official currency and represents a pivotal moment in the country's preparations for Eurozone membership.

The approved coin designs feature iconic Bulgarian symbols, including the renowned Madara Rider on denominations ranging from 1 to 50 euro cents, St. Ivan of Rila on the 1 euro coin, and Paisius of Hilendar on the 2 euro coin. These designs reflect Bulgaria's rich cultural heritage and historical significance.

Moving forward, the next steps in the process include the production of up to 1 million euro coins with the Bulgarian national side, aimed at testing the quality of the coins and certifying the Bulgarian Mint EAD. Following this, regular production will commence to meet the demand for euro coins with Bulgarian symbols once the European Council officially adopts the euro as Bulgaria's legal tender.

Prime Minister Nikolai Denkov's diplomatic efforts at the European Council have yielded promising outcomes for Bulgaria's Eurozone accession and Schengen Area membership by January 1, 2025. Denkov's strategic negotiations with key EU leaders, including Chancellor Olaf Scholz of Germany and Prime Minister Petteri Orpo of Finland, have garnered positive assurances of support for Bulgaria's aspirations.

Germany and other influential EU members have expressed steadfast backing for Bulgaria's entry into the Eurozone and the eventual elimination of land borders within the Schengen Area. This favorable response reflects growing confidence in Bulgaria's economic stability and commitment to European integration.

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Tags: Bulgaria, Eurozone, European Union, currency


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