Title page 1

Contents 1

Summary 1

The adoption of the euro by Bulgaria in 2026 2

The six non-euro area members of the EU after 2026 9

Policy recommendations and conclusions 15

Bibliography 16

Tables 4

Table 1. Support of Bulgarian citizens for the adoption of the euro 4

Table 2. Support of Bulgarian business for the adoption of the euro 5

Table 3. Comparisons between the six non-euro area member states 11

Figures 13

Figure 1. Step-by-step accession to the ERM II and the euro area 13