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Romanian President Says Country Should Maintain Goal To Join Eurozone In 2015

Romania should maintain its goal to adopt the euro in 2015, President Traian Basescu said Wednesday on national television TVR, adding he had talks on the subject with the prime minister and the central bank governor.
Romanian President Says Country Should Maintain Goal To Join Eurozone In 2015
Valentin Vidu
28 apr. 2011, 11:19, English

The head of state said the country needs to keep up the pace of reforms to make its self-imposed deadline for euro adoption.

The president added the Government will decide on a euro-adoption calendar Friday.

Prime Minister Emil Boc said Tuesday the Government will decide on a new euro-adoption calendar by end-April, after talks with the president and the central bank. He said the Government will also adopt the country’s convergence program for 2011-2014 and discuss euro adoption.

According to the draft convergence program for 2011-2014, obtained by MEDIAFAX, Romania has given up its self-imposed 2015 deadline for euro adoption, saying the country will not be able to join the European Exchange Rate Mechanism (ERM-II) before 2013-2014. The initial term to join the ERM-II was set for 2012.

The country’s convergence program is subject to annual revisions and will be sent to the European Union pending Government approval.