Under the rules, Romania would have to have a structural deficit of no more than 0.5% of the gross domestic product and a budget deficit of no more than 3% of GDP.
The president was not very explicit and did not say whether Romania would join the fiscal pact even if the signatory countries outside the eurozone would not be allowed to participate in the eurozone summit.
That this is a major concern for countries outside the eurozone is shown by the fact that Polish Prime Minister Donald Tusk threatened last week in Warsaw that Poland would not sign this compound unless it can take part in meetings of eurozone members.
But why is this participation important? Because, says the Romanian president, any decision made in the eurozone also directly affects countries outside the eurozone, such as Romania.
The rules of the fiscal pact must be introduced into national constitutions of signatory countries, as was decided at the latest European Council in December last year.
Initially, this was supposed to take place by December 31, 2012. But the president announced he would ask for a postponement, given the current economic context in Romania, with two sets of elections in 2012 and a tense political climate.
(English version by Daniela Stoican)