ON ROMANIA’S CROOKED JOURNEY TOWARDS EURO
ON ROMANIA’S CROOKED JOURNEY TOWARDS EURO

Summary/Abstract: This research is focused on the auspices of adopting Euro in the present day economic, social and political junctures of Romania. Starting with the analysis of the economic outlook after the moment of fulfilling the prerequisite macroeconomic criteria, the approach is developed in a particular manner towards the assessment of the domestic social and political conditional ties that are contextually relevant, from a political economy angle, with inflexions towards the current positioning of the domestic political deciding factors. Except for a batch of remarks concerning convergence, the paper does not deal with the specific econometrics of Euro adoption, such as business cycle synchronization or any of the optimum currency area present day debates. Instead it attempts to serve the Euro adoption cause in the predictable future, given the lessons hopefully learned during the years 2015-2016 when Romania was indeed within the Euro compliance margins, but for various reasons never considered taking advantage of this peculiar window of opportunity. Seen from this perspective, combining endogenous with exogenous arguments, mainly of social and cultural consistence, the research is moreover a professional awareness bell for various categories of stakeholders, than an attempt to suggest any sort of normative policy blueprint for such a manifold process as Euro adoption seems to be in this country.

• Details
• Contents