Poland is getting closer to the euro. Pressure from a surprising direction.

• Bulgaria has received EU approval to adopt the euro, which will take effect on 1 January 2026, enlarging the eurozone to 21 countries.
• Prof. Beata Javorcik points out that for Bulgaria the change is mainly symbolic, and the main advantages of the euro are lower transaction costs and greater financial discipline.
• At the same time, for larger countries like Poland, the decision to join is more complex, and pressure from businesses may increase as the eurozone expands.

On January 1, 2026, the eurozone will expand to 21 countries. Bulgaria will be the new country with the common European currency.

As Professor Beata Javorcik, chief economist at the EBRD (European Bank for Reconstruction and Development), pointed out in an interview with money.pl, Bulgaria has long maintained a fixed exchange rate and has not pursued an independent monetary policy. Therefore, the introduction of the euro is primarily symbolic, not practical.

According to Professor Javorcik, the arguments for and against Poland's entry into the eurozone are well known.

Among the former, the primary considerations include a decline in transaction costs due to the disappearance of exchange rate uncertainty in trade within the EU. Furthermore, the process of joining the eurozone would foster discipline in public finances, she said.

On the other hand, member states differ greatly in terms of development and economic condition, so the ECB's monetary policy does not always meet their needs. By adopting the euro, we also lose the ability to influence our own currency exchange rate , which limits our macroeconomic policy tools.

Prof. Javorcik emphasized that in smaller countries, such as Bulgaria, the benefits of adopting the euro usually outweigh the costs, but in larger countries the situation is less obvious.

She also added that the more EU countries join the eurozone, the more likely Poland will seriously consider joining, and the pressure from businesses operating in the country may intensify.

Bulgaria in the eurozone. What is Poland's situation?

Countries that joined the EU after 2004 and adopted the euro:

• Cyprus,
• Croatia,
• Estonia,
• Malta,
• Lithuania,
• Latvia,
• Slovakia,
• Slovenia.

The Czech Republic, Poland, Romania and Hungary still retain their currencies.