And the truth is that in the real indicators of convergence still limp all over. We appreciate Governor Isarescu’s apparent reserve because in this particular case, the rush can go badly wrong.
Romania must choose the right time when it decides to give up almost all the economic and monetary policy instruments related to interests, reserves, exchange rate or inflation.
And, speaking of joining the Euro – let’s considers the Greeks. There were voices arguing during the financial crisis that hit Greece very hard, that they should return to the drachma, considering that they would be better off without the Euro. The fact is that the Greeks perhaps would have been better. But only on a very short term.
On the medium term it would have been economic carnage. And the EURO posed quite a challenge for them initially, but still it gave them the prospects for recovery.
So the Euro is welcome to us, but let’s hurry slowly and choose our time carefully. I hope it will be less of a political decision and more of a technical one.
We'll see what happens by then!