Council Regulation (EU) 2025/1408 of 8 July 2025 amending Regulation (EC) No 974/98 as regards the introduction of the euro in Bulgaria

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 140(3) thereof,

Having regard to the proposal from the European Commission,

Having regard to the opinion of the European Central Bank (1),

Whereas:

(1) Council Regulation (EC) No 974/98 (2) provides for the substitution of the euro for the currencies of the Member States which fulfilled the necessary conditions for the adoption of the euro at the time when the Community entered the third stage of economic and monetary union.

(2) In accordance with Article 5 of the 2005 Act of Accession, Bulgaria participates in Economic and Monetary Union from the date of accession as a Member State with a derogation, within the meaning of Article 139(1) of the Treaty.

(3) Pursuant to Council Decision (EU) 2025/1407 (3), Bulgaria fulfils the necessary conditions for the adoption of the euro, and the derogation regarding Bulgaria is to be abrogated with effect from 1 January 2026.

(4) The introduction of the euro in Bulgaria requires the extension to Bulgaria of the existing provisions on the introduction of the euro that are set out in Regulation (EC) No 974/98.

(5) The National Euro Changeover Plan of Bulgaria specifies that euro banknotes and coins should become legal tender in that Member State on the day of the introduction of the euro as its currency. Consequently, the euro adoption date and the cash changeover date should be 1 January 2026. No ‘phasing-out’ period should apply.

(6) Regulation (EC) No 974/98 should therefore be amended accordingly,

HAS ADOPTED THIS REGULATION:

Article 1

In the Annex to Regulation (EC) No 974/98, the following entry is inserted between the entry for Belgium and the entry for Germany:

Article 2

This Regulation shall enter into force on 1 January 2026.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 8 July 2025.

For the Council The President S. LOSE

(1) Opinion of 2 July 2025 (OJ C, C/2025/3948, 10.7.2025, ELI: http://data.europa.eu/eli/C/2025/3948/oj).

(2) Council Regulation (EC) No 974/98 of 3 May 1998 on the introduction of the euro (OJ L 139, 11.5.1998, p. 1, ELI: http://data.europa.eu/eli/reg/1998/974/oj).

(3) Council Decision (EU) 2025/1407 of 8 July 2025 on the adoption by Bulgaria of the euro on 1 January 2026 (OJ L, 2025/1407, 14.7.2025, ELI: http://data.europa.eu/eli/dec/2025/1407/oj).