Romania on the Way to Eurozone: The Accession Deadline
Romania on the Way to Eurozone: The Accession Deadline

Summary/Abstract: The fact that Romania has met in June 2014 for the first time all nominal criteria laid down in the Maastricht Treaty for the adoption of the euro, including inflation and is presenting quite well at the real convergence criteria does not mean that there are no long term risks that can damage this situation. Setting by the authorities of a date, January the 1st, 2019, for euro adoption is an ambitious objective and therefore structural problems and competitiveness must be the top priority of any government. From these brief considerations this article proposes, based on analyses and calculations to evaluate Romania's chances to meet the target and at the same time, to suggest some directions in order to avoid the mistakes done by other countries that have entered less prepared in the euro area. The article tries to set a proper timing for euro adoption in Romania, with minimum risk and maximum benefit given the need for sustainable nominal convergence criteria besides ensuring increased competitiveness in support of a real sustainable economic growth.

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