Bulgaria's Journey to Euro Area Faces Decade-Long Challenges Ahead
Bulgaria has been using a currency board to tie its money to the euro for 20 years. This makes it easier for Bulgaria to switch to the euro without causing big problems for the economy. Lately, Bulgaria has been getting closer to joining the eurozone, but there are still challenges to overcome. These include making sure Bulgaria's economy is similar enough to other euro countries, rebuilding trust in Bulgarian banks and institutions, and convincing people that joining the euro is a good idea. There's also uncertainty about how the eurozone and the EU will change in the future. If Bulgaria does switch to the euro, it will have more influence in the EU.