“2015 no longer is a credible target, we must be realistic. I am under the impression that even Poland, with much stronger convergence criteria than Romania’s, has given up its target to join the eurozone in 2015,” said Ponta, adding, however, that Romania must not abandon its goal.
President Traian Basescu has recently said that Romania wants “a reasonable self-imposed deadline for euro adoption,” because the European Union countries which adopted the European common currency are not willing to wait for too long and will continue their integration process to this end.
Basescu pointed out, however, that it is very important for Romania to join the euro zone in the next three-four years.
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, including a budget deficit not higher than 3% of the gross domestic product, reduced levels of public debt and of the inflation rate.