Why is it in News?
→ Bulgaria officially adopted the euro as its currency.
→ Marks deeper economic and political integration with the European Union.
Important Points:
- Bulgaria became the 21st member of the Eurozone.
- Euro adoption occurred nearly 20 years after joining the EU.
- Bulgaria gave up its national currency, the lev.
- Euro adoption aims to boost trade and investment.
- Strengthens Bulgaria’s integration with the EU.
- Eurozone established under Maastricht Treaty, 1992.
- Euro officially launched in 1999.
- Euro is now used by over 350 million people in Europe.