“Romania intends to ratify the treaty and decide on its application sometime this year,” says a Government statement. “Romania joined this initiative both to contribute to the EU’s consolidation, and to promote its interests,” says Prime Minister Mihai Razvan Ungureanu, cited in the press release.
All EU member states with the exception of the UK and the Czech Republic have signed the European fiscal stability treaty, which controls budget deficits and imposes fiscal discipline. The treaty will enter force on January 1, 2013, after being ratified by at least 12 signatory euro zone members, or on the first day of the month after its ratification by the 12th euro zone member, whichever comes first.