Overview of summit results
EU removes the euro introduction in Bulgaria
Updated on June 27th, 2025 – 01:28Reading time: 3 min.
Bulgaria can introduce the euro as a currency from January 1st. This was decided by the heads of state and government at the EU summit. However, there was no agreement on two other topics.
The heads of state and government of the EU countries have cleared Bulgaria the way for the introduction of the community currency. Chancellor Friedrich Merz (CDU) and his colleagues stood behind at a summit in Brussels behind the EU Commission’s proposal, which provides for the introduction of the euro in the Balkans on January 1, 2026. The formal EU decision by the finance ministers is still pending.
Since the introduction of the euro in 2002, 20 EU member states have currently been using the euro as an official means of payment: Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Ireland, Italy, Latuen, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain.
But other states also use the means of payment: Andorra, Monaco, San Marino, Vatican City, Montenegro and Kosovo. In addition, the Czech Republic, Hungary, Poland, Sweden and Romania have promised an introduction.
In two other important points, however, the heads of state and government could not agree at the EU summit: the 18th sanction package against Russia and exposing the association agreement with Israel. The topics at a glance:
At the NATO summit, the participants had agreed to raise defense spending to five percent of the gross domestic product. Brussels now dealt with the implementation of this goal. The heads of state and government discussed the armament of Europe for three hours on Thursday. As a result, they called for an accelerated expansion of defense skills and a faster progress for joint armaments projects. They also called on to further work on the expansion of production in the European armaments industry, “including medium -sized companies”.
US President Donald Trump had been celebrated at the NATO summit in the Hague for the ceasefire in the war between Israel and Iran. The Europeans were largely viewers. After the “hiring of hostilities”, they now offer their help with the “diplomatic efforts” in order to “bring about a permanent solution to the Iranian nuclear question”.
However, the controversial topic was Israel’s approach in the Gaza Strip. The suspension of the association agreement with Israel, which was required by several EU countries, failed on Thursday, among others, at Veto Germany and Austria. According to the EU foreign commissioner Kaja Kallas, Israel has violated two of this agreement, which mentions respect for human rights. The European Council only announced that it would continue the consultations about possible measures in July.
The EU wants to increase the pressure on Russia through an 18th sanction package. The EU Commission’s proposal provides for further measures against individual people and organizations as well as against the so-called shadow fleet, with which Moscow deals with the oil embargo imposed in the course of the Ukraine war. An agreement on the package failed on Thursday at the Slovakian Prime Minister Robert Fico. He is bothered by a proposal by the EU Commission to ban the import of Russian gas by 2027 and calls for concessions from the EU Commission. The heads of state and government just agreed to extend the existing sanctions.
Ukrainian President Wolodymyr Selenskyj has become a permanent guest in EU peaks. He was switched on by video on Thursday. In the declaration of summit, the EU reaffirms its support for Ukraine and its accession to the EU. As with previous Ukraine declarations, it was only supported by 26 of the 27 member states. Hungary’s head of Russia, head of government Viktor Orban, is against Kiev’s accession to the EU.
In two weeks, the recent deadline that US President Trump had set for the planned collection of new tariffs. Chancellor Friedrich Merz (CDU) again asked the EU Commission to quickly compromise a compromise. He advocated making agreements as quickly as possible to the most important industrial sectors. France’s President Emmanuel Macron also called for a “soon conclusion” of an agreement with the USA – “but not at all costs,” he added.
On Thursday, Merz was the first Chancellor to participate in an informal meeting on the subject of migration, to which Denmark, Italy and the Netherlands had invited. The Chancellor has committed himself to a “migration turn”.
France has rejected reports of wanting to slow down the European climate goals. The goal of climate neutrality until 2050 unchanged. However, care must be taken not to reduce the competitiveness of Europe. This also includes Paris equality of nuclear energy with renewable energies, especially with a view to the financing of future projects.
