Romania must do its utmost to meet convergence criteria and stay within deficit and inflation targets, while asserting its commitment to entering the euro zone, the prime minister said.
Romania aims to join the euro zone in 2015, but the euro adoption calendar will be discussed again after parliamentary elections scheduled for December, Romanian officials said recently.
The country’s plan to enter the euro zone in 2015 is currently “out of the question,” said Romanian central bank governor Mugur Isarescu, cited by The New York Times.
The 12 states that joined the European Union in 2004 and 2007 also pledged to adopt the European single currency. The euro adoption has no clear-cut calendar, but joining the euro zone requires the observance of a set of strict criteria, includind a budget deficit not higher than 3% of the gross domestic product, reduced levels of public debt and of the inflation rate.
Five of these states–Slovakia, Slovenia, Estonia, Cyprus and Malta–have already joined the euro zone.