Antena 3 CNN Business Erste: Romania’s objective to join the Eurozone in 2019 is a "very ambitious" one. A more realistic term would be after 2021

Erste: Romania’s objective to join the Eurozone in 2019 is a "very ambitious" one. A more realistic term would be after 2021

Erste: Romania’s objective to join the Eurozone in 2019 is a  "very ambitious" one. A more realistic term would be after 2021
20 Mai 2014   •   16:05
Romania's goal of joining the euro zone in 2019 is a "very ambitious” one, a  realistic deadline  would be  beyond 2021, so that  Romania should be able to avoid the premature transition to the euro, while the decision makers  seem to ignore the challenges and risks of being a member state, according to Erste.

"In recent years, Romania's accession to the euro zone has become a moving target. The last mentioned deadline is now 2019. We believe this new term is a very ambitious one and consider that a more realistic date of joining the Euro would be beyond 2021", a report of Erste "Accession to the euro area: a moving target" says, quoted by  Mediafax.

Romania’s plans of joining  the euro area remained unchanged even during the peak of the crisis, when the very  existence  of the euro  was questioned while  Hungary and Poland have put that goal on hold.

Romania's joining the Eurozone, a moving target since the country’s accession into the  European Union, has been used as a "historic project" needed to serve as an anchor for economic decisions of governments, supported strongly in this regard by the National Bank of Romania.
    
"Over the last two decades, Romania's appetite for reform has been rather moderate and therefore such ambitious goals as the EU accession or obtaining  the IMF  safety belt were motivating factors that made Romania swallow  the reforms bitter pills which otherwise it  would have rejected, the  said institutions having  also the role of scapegoats for the  unpopular decisions", the report said.
    
To adopt the euro, Romania must meet several criteria of nominal convergence, which are formal criteria for joining the Eurozone. For joining the euro, however, the  real convergence criteria are also relevant, which provide a more accurate picture of the country's capacity to deal with the pressures of competitiveness in the Eurozone, Erste notes.

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