THE ROAD TOWARDS THE EURO. AN ANALYSIS OF THE CONVERGENCE CRITERIA
THE ROAD TOWARDS THE EURO. AN ANALYSIS OF THE CONVERGENCE CRITERIA

Summary/Abstract: Following its accession to the European Union, Romania has started an ongoing process of convergence towards the European standards. This was the case in almost every field, starting with law, public services, etc. One of the most important tasks was put on the Romanian agenda by the European Union, the adoption of the Single European Currency. Of course no deadline was set, but through the Accession Treaty Romania is obliged to introduce the Single European Currency at the time it will meet the Convergence Criteria. The current paper analysis the stage of fulfillment of the 5 Convergence Criteria in Romania and tries to make some suggestions concerning the Euro adoption. It is without a doubt to be said from the beginning that a unilateral adoption of the Euro is no solution for Romania. Without meeting the minimal nominal convergence criteria the effects of the introduction of the Euro in Romania would be much worse.

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