SOFIA (Reuters) — Two weeks into its official adoption of the currency, Bulgaria’s transition to the euro is being hailed as a “smooth success” by European Central Bank officials, despite initial protests in the capital.
On January 1, Bulgaria officially became the 21st member of the eurozone, replacing the lev. Prime Minister Nikolay Denkov stated today that the move will “anchor Bulgaria in the heart of Europe” and boost foreign investment.
However, the transition has not been without friction. Consumer watchdog groups in Sofia have reported instances of “rounding up” prices by retailers, sparking minor demonstrations. The EU has deployed a task force to monitor price gouging during the three-month dual circulation period.
