Bulgaria Becomes Full Eurogroup Member with Permanent Euro Status

Sofia: Bulgaria will remain a member of the eurozone indefinitely, with no mechanism in place for withdrawal, according to an international media report citing EU Council sources.

Officials said Bulgaria’s inclusion in the eurozone is irreversible following the European Council’s decision to lift the country’s temporary derogation from adopting the euro. Like other new EU member states, Bulgaria had previously benefited from a transitional arrangement delaying full adoption of the single currency after joining the block.

With the derogation lifted, Bulgaria’s entry into the eurozone has become permanent, the officials emphasized.

Bulgaria will take part as a full member in the Eurogroup for the first time on January 19, joining finance ministers from 21 of the 27 EU member states that use the euro. Outgoing Finance Minister Temenuzhka Petkova is expected to represent the country at the meeting.

The session will also mark the first meeting chaired by the new Eurogroup president, Greek Finance Minister Kyriakos Pierakakis, who has succeeded former Irish finance minister Paschal Donohoe.

Bulgaria’s participation is being described as a historic milestone, formally integrating the country into the core decision-making framework of the eurozone.