Pierre Gramegna at Eurogroup press conference, January 2026

Remarks by Managing Director Pierre Gramegna
Press conference following Eurogroup meeting
Brussels, 19 January 2026

Let me start by wishing you a happy New Year, because most of you I haven’t seen yet. It’s a bit late but it’s never too late to start with a positive point.

The second positive point is congratulations to Kyriakos Pierrakakis for his first Eurogroup, which I found he masterfully chaired with productive and constructive discussions, and I think he set a very positive tone for his tenure. I dwelled a lot on the topic of Bulgaria because it is an important one. I would like to start by saying that it was very important to hear the news from Minister Petkova about how the first days [of having the euro as a currency] went in Bulgaria, that the introduction of the euro went very smoothly, and that public support for the euro is extremely strong. Joining the euro area was and is an important milestone for Bulgaria and carries an important message for all of us.

In fact, Bulgaria joining the euro area is a win-win. It's a win for Bulgaria, and it's a win for the euro area. It also shows the attractiveness of the common currency that we have. This is particularly noteworthy at a time when fragmentation and geopolitical turmoil is increasing. Later in the year, Bulgaria will also become a member of the European Stability Mechanism, gaining access to our robust safety net. I published today a blog on the topic because I think this is really important.

On the euro area recommendations, let me congratulate the Commission, and Valdis in particular, for a very good proposal that encompasses a lot of key actions. For me, the common denominator is that only concerted action will allow the euro area to thrive in today's uncertain world. As geopolitical threats have already increased again since the beginning of this year, Europe needs to set a comprehensive external agenda.

Let me mention a few things I highlighted in the meeting: stronger strategic external partnerships, more diversified economic and financial ties, and a reinforced international role of the euro. Enhancing competitiveness and resilience at the European level remains in our own hands. Two of our most powerful instruments to achieve that are modernising the single market and achieving the savings and investments union. More than ever, it is urgent for Member States to act together decisively to prevent the euro area from falling further behind the United States.

Last but not least, I would like to congratulate Boris Vujčić, who was selected by the Eurogroup as the successor of Luis de Guindos as Vice President of the European Central Bank, which paves the way for his formal appointment. We know Boris Vujčić very well and we wholeheartedly congratulate him.

Thank you.