**Policy Summary: Council Regulation (EU) 2025/1408 Regarding the Introduction of the Euro in Bulgaria**
This Council Regulation (EU) 2025/1408, enacted on July 8, 2025, amends Regulation (EC) No 974/98 to facilitate the introduction of the euro in Bulgaria. The legal basis for this regulation is Article 140(3) of the Treaty on the Functioning of the European Union. The regulation follows Council Decision (EU) 2025/1407, which determined that Bulgaria fulfills the necessary conditions for euro adoption.
Key provisions of the regulation include:
* **Euro Adoption Date:** The euro will be introduced in Bulgaria on January 1, 2026.
* **Cash Changeover Date:** Euro banknotes and coins will become legal tender in Bulgaria on January 1, 2026, coinciding with the euro adoption date.
* **Phasing-Out Period:** No phasing-out period for the Bulgarian currency is предусмотрен.
* **Amendment to Regulation (EC) No 974/98:** The Annex to Regulation (EC) No 974/98 is amended to include Bulgaria, specifying January 1, 2026, as both the euro adoption and cash changeover date.
This regulation is binding in its entirety and directly applicable in all Member States.
Key Entities Referenced
European Union: The political and economic union of European member states.
Council Regulation (EU) 2025/1408: A regulation of the Council of the European Union amending Regulation (EC) No 974/98 regarding the introduction of the euro in Bulgaria.
Regulation (EC) No 974/98: Council Regulation on the introduction of the euro.
Bulgaria: A Member State of the European Union adopting the euro.
Euro: The single currency of the Eurozone.
European Central Bank: The central bank of the Eurozone.
Economic and Monetary Union: The coordination of economic and fiscal policies between EU member states.
Council Decision (EU) 2025/1407: Council Decision on the adoption by Bulgaria of the euro on 1 January 2026
Official Journal EN
of the European Union L series
2025/1408 14.7.2025
COUNCIL REGULATION (EU) 2025/1408
of 8 July 2025
amending Regulation (EC) No 974/98 as regards the introduction of the euro in Bulgaria
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 140(3) thereof,
Having regard to the proposal from the European Commission,
Having regard to the opinion of the European Central Bank(1),
Whereas:
(1) Council Regulation (EC) No 974/98(2) provides for the substitution of the euro for the currencies of the Member
States which fulfilled the necessary conditions for the adoption of the euro at the time when the Community entered
the third stage of economic and monetary union.
(2) In accordance with Article 5 of the 2005 Act of Accession, Bulgaria participates in Economic and Monetary Union
from the date of accession as a Member State with a derogation, within the meaning of Article 139(1) of the Treaty.
(3) Pursuant to Council Decision (EU) 2025/1407(3), Bulgaria fulfils the necessary conditions for the adoption of the
euro, and the derogation regarding Bulgaria is to be abrogated with effect from 1 January 2026.
(4) The introduction of the euro in Bulgaria requires the extension to Bulgaria of the existing provisions on the
introduction of the euro that are set out in Regulation (EC) No 974/98.
(5) The National Euro Changeover Plan of Bulgaria specifies that euro banknotes and coins should become legal tender
in that Member State on the day of the introduction of the euro as its currency. Consequently, the euro adoption date
and the cash changeover date should be 1 January 2026. No ‘phasing-out’ period should apply.
(6) Regulation (EC) No 974/98 should therefore be amended accordingly,
HAS ADOPTED THIS REGULATION:
Article 1
In the Annex to Regulation (EC) No 974/98, the following entry is inserted between the entry for Belgium and the entry for
Germany:
‘Bulgaria 1 January 2026 1 January 2026 No’
Article 2
This Regulation shall enter into force on 1 January 2026.
(1) Opinion of 2 July 2025 (OJ C, C/2025/3948, 10.7.2025, ELI: http://data.europa.eu/eli/C/2025/3948/oj).
(2) Council Regulation (EC) No 974/98 of 3 May 1998 on the introduction of the euro (OJ L 139, 11.5.1998, p. 1, ELI: http://data.
europa.eu/eli/reg/1998/974/oj).
(3) Council Decision (EU) 2025/1407 of 8 July 2025 on the adoption by Bulgaria of the euro on 1 January 2026 (OJ L, 2025/1407,
14.7.2025, ELI: http://data.europa.eu/eli/dec/2025/1407/oj).
ELI: http://data.europa.eu/eli/reg/2025/1408/oj 1/2EN
OJ L, 14.7.2025
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 8 July 2025.
For the Council
The President
S. LOSE
2/2 ELI: http://data.europa.eu/eli/reg/2025/1408/oj