Bulgaria Joins Euro

 

(Store in Bulgaria with prices in both the Lev and the Euro.)

Bulgaria marked New Year by adopting the Euro.

Bulgaria became the 21st country to switch to the Euro on Thursday.

However, concerns persist that the move could usher in higher prices and add to political instability rattling the Balkan country.

When midnight struck, Bulgaria gave up the Lev (which means Lion) Currency, which has been in use since 1881.

Joining the Currency club marks a major milestone for the Eastern European Country, which entered the European Union in 2007.

For mostly Urban, Young and Entrepreneurial Bulgarians, it's an optimistic and potentially lucrative leap - the final move in a game which has brought Bulgaria into the European mainstream - from NATO and EU membership, to joining the Schengen Zone, and now the Euro.

For the Older, Rural, more Conservative parts of the Population, the replacement of the Bulgarian Lev by the Euro provokes fear and resentment.

Bulgaria's accession leaves only six of the 27 EU nations outside the Currency Union: Sweden, Poland, the Czech Republic, Hungary, Romania and Denmark.