Romanian Central Bank Governor Awarded For Professional Merits

Isarescu was presented with the highest rank of the order, namely the Sash rank. The order was given in sign of „great appreciation” for Isarescu’s results and his efforts as central bank governor to „elaborate and successfully implement monetary policies to ensure Romania’s financial stability,” Basescu said at the award ceremony.

The head of state also decorated the central bank board members who served between 2004 and 2009.

In his receiving speech, Isarescu pledged to carry on the central bank’s policy to ensure price and financial stability and to make the necessary preparations for an optimal adoption of the euro.

Romania, which hopes to join the euro area in 2014-2015, must register a deficit below 3% of the gross domestic product in the years prior to the adoption of the European common currency.

In 2010, Romania pledged to bring the budget deficit down to 5.9% of GDP, from a gap estimated at 7.3% of GDP in the last year.