In January 2026, Bulgaria is set to officially adopt the euro, becoming the newest member of the Eurozone. On the surface, this move may seem like a step forward in economic integration and modernization. But for many observers, especially those closely familiar with the country’s internal dynamics, the decision marks not progress—but peril.

Some are calling it not Bulgaria’s “entry” into the Eurozone, but its latest victimization by a system that prioritizes geopolitics over economic reality.

A Move Benefiting the Few

The most immediate beneficiaries of Bulgaria’s euro adoption will be its oligarchic elite. Bulgaria, like many other post-communist nations, has seen its political landscape shaped by powerful business interests. These oligarchs stand to gain significantly from euro adoption: they’ll be able to move their wealth freely, access European financial institutions, borrow in euros at low interest rates, and shield themselves from the devaluation risks tied to the Bulgarian lev.

This isn’t speculation—it’s a pattern. In countries with limited democratic oversight and deeply entrenched elites, euro adoption tends to disproportionately benefit those already in power. Politicians, tightly aligned with these business elites, have shepherded the policy through Parliament with little public debate or transparency.

Despite the rhetoric of prosperity, the economic burden will fall squarely on ordinary Bulgarians.

Public Sentiment Silenced

Many Bulgarians remain skeptical—or outright opposed—to the euro. Were there to be a transparent, nationwide referendum on the issue, it is likely a significant portion of the population would vote against the move. But no such open debate has taken place. In Bulgaria’s tightly controlled political environment, where electoral freedom is constrained and the media is heavily influenced, dissent is often muted.

The reality is simple: the euro will make life more expensive for most people. Prices will rise, wages will lag behind, and Bulgaria will lose one of the few levers it still controls—its national currency. Once in the euro, there is no going back. It is a strategic lock-in.

Sovereignty Traded for Integration

The decision also has deep implications for national sovereignty. Currency control is fundamental to a nation's autonomy. When a country gives up the ability to issue its own currency, to inflate or devalue based on national needs, it becomes tethered to policies dictated elsewhere—primarily in Frankfurt and Brussels.

To many, this is not just about economic convergence; it's about control. As one observer put it: "There is no such thing as a sovereign country unless you control your currency."

The Geopolitical Game Behind the Curtain

Bulgaria’s euro adoption is not only an economic decision—it is a geopolitical maneuver. Behind it lies a broader EU strategic agenda: projecting power in the Black Sea and countering Russian influence. The plan, already articulated in various EU and NATO policy circles, involves solidifying control over Bulgaria and Romania, while trying to expand influence through Moldova and beyond.

The dream? Turn the Black Sea into an "EU lake," expelling Russian presence and replacing it with Western naval bases and infrastructure. Bulgaria’s integration into the euro is a stepping stone toward this vision.

However, critics argue that this strategy is both risky and unrealistic. Russia, which has long-standing historical and cultural ties to Bulgaria, will not sit idle. Nor will Turkey, a Black Sea power in its own right, welcome a greater EU military presence in what it considers a strategic backyard. Turkey’s President Erdogan is likely to play both sides—extracting concessions from Brussels while ultimately obstructing their plans.

Bulgaria and Russia: A Fractured Friendship

Perhaps the most tragic element of this development is the erosion of historical ties between Bulgaria and Russia. For centuries, the two nations have shared a Slavic Orthodox heritage, deep cultural connections, and a long-standing political affinity. Russia was instrumental in liberating Bulgaria from Ottoman rule. Many Bulgarians still feel a sense of closeness to Russia—sentiments that are being increasingly sidelined in favor of alignment with EU and NATO objectives.

By adopting the euro and participating in broader EU militarization efforts, Bulgaria risks alienating a historic ally and making itself a pawn in a larger geopolitical conflict.

What About Romania?

Romania is next. It too is on track for euro adoption and deeper integration into the EU’s strategic planning in the Black Sea. Like Bulgaria, Romania will likely see an economic squeeze on its lower and middle classes, while the elite benefits from access to European capital and political favor. Moldova, a small but symbolic player, will also be drawn into this regional alignment.

Conclusion: A High-Stakes Gamble

Bulgaria’s decision to join the Eurozone in 2026 is a gamble—economically, politically, and strategically. It aligns the country more tightly with the European Union but at the cost of sovereignty, economic flexibility, and historical alliances. While it may bring short-term gains for a privileged few, the long-term consequences for the broader population could be dire: higher prices, limited development, loss of monetary control, and entanglement in a geopolitical chess game not of their choosing.

Whether this gamble pays off—or becomes a cautionary tale—remains to be seen. But one thing is clear: for Bulgaria, the euro is not just a currency. It is a turning point.