Bulgaria has today become the 21st member of the European Stability Mechanism (ESM), completing its integration into the institutional architecture of the euro area, following the adoption of the single currency on 1 January this year.
© Reuters
29/06/2026
by
Lusa
ANDm announced today, the ESM points out that the entry into force of the treaty on Bulgaria occurs after the approval of the country's application to join the euro area rescue fund.
“The ESM remains an essential pillar of the euro area’s financial security network, helping to safeguard stability and strengthen resilience throughout monetary union,” said the General Director of the mechanism, Pierre Gramegna, quoted by the press release.
He adds that Bulgaria’s accession “completes the country’s integration into the institutional architecture of the euro area and reflects the solidarity that is at the heart of the European project”.
For his part, Deputy Prime Minister and Bulgarian Finance Minister Galab Donev also considers that entry into the ESM is “a clear assessment of Bulgaria’s maturity and shared responsibility”.
“By joining the ESM, Bulgaria deepens its fiscal and economic integration with the euro area,” the governor said, adding that membership also guarantees the country access to “a reliable and proven framework of financial support in times of need”.
Bulgaria has subscribed some EUR 5.3 billion of the capital of the ESM and will make an initial contribution of EUR 603.2 million to the capital of the mechanism, which will be paid in five annual instalments.
According to the statement, for presenting a ‘per capita’ Gross Domestic Product (GDP) below 75% of the EU average, the country will benefit from a temporary correction which will reduce its contribution to the capital of EUR 388.7 million by 2038.
Established in 2012, the European Stability Mechanism acts as the euro area’s permanent rescue fund, providing financial assistance to Member States facing or risking serious financing problems.
More than 27 years after its creation, the euro is now the currency of 21 EU countries and is used daily by more than 350 million people, the second most used currency in the world.
Bulgaria officially adopted the euro on 1 January 2026, becoming the 21st Member State of the single currency area.