Lagarde and Radev unveil Bulgaria’s new euro banknotes

European Central Bank chief Christine Lagarde and Bulgarian National Bank head Dimitar Radev displayed euro banknotes prepared for their nation during a joint appearance following a financial gathering at the Boyana residence.

Officials presented notes in denominations of 5, 10, 20, 50, 100, and 200 euros as Bulgaria prepares to enter the currency bloc in January. Lagarde said the country concludes years of demanding policy changes and sustained expectations when adoption occurs at the start of 2026. She acknowledged citizen apprehension about the transition but noted that 83 percent of Europeans currently embrace the shared money. Radev thanked Lagarde for sustained assistance from the central bank and described the changeover as an important milestone, offering fresh opportunities for economic expansion. He cautioned that Bulgaria has gradually abandoned fiscal restraint since 2020 and must resume disciplined spending practices, warning that failure to control expenditures will force higher taxation and increased borrowing.

The banking authority chief said sufficient currency supplies will arrive during opening hours of the new year, with electronic transactions converting to euros immediately while both levs and euros remain acceptable throughout January. Radev urged residents to stay composed and said no special preparations are necessary.