European Union members on Tuesday approved Bulgaria’s bid to become the 21st member of the Eurozone next year.
The country has been working to join the currency zone since becoming an EU member in 2007, with successive governments in Sofia arguing that adopting the euro would strengthen its economy, although experts say the move is unlikely to bring significant change to what is currently the weakest economy in the bloc.
Many Bulgarians opposed the move: Thousands took to the streets in protest last week, and a European Commission report in May found that half the population opposed the switch, fearing higher prices — concerns that have been fueled by an aggressive anti-euro campaign led by the far-right, pro-Russian Revival party.
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