Government decides the year 2024 deadline for Romania to adopt the euro

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By Jerom Bolt
Prime Minister Viorica Dăncilă announced on Wednesday that the Government will assume the adoption of the euro by Romania until 2024. The government will transmit to the European Commission, in the next period, the documents regarding the national currency adoption plan and its substantiation report.
“The adoption of the euro currency is a complex, large-scale project that needs to be thoroughly prepared by engaging specialists, the academia, employer’s associations, trade unions, political parties, civil society and, of course, all the relevant institutions in the area. Last year, the committee – which included representatives of these structures – had an intense activity with bimonthly meetings. As a result, two documents were produced: the national euro adoption plan and the substantiation report of this plan. Today, the Government will acquire these documents in view of politically assuming them. Subsequently, they will be forwarded to the European Commission. Implicitly, we take on the objective of Romania adopting the euro currency in 2024,” PM Dancila stated in the beginning of the Gov’t sitting.
The PM underscored that it is essential to enter a stage prior to this process, namely the European Exchange Rate Mechanism (ERM) and, also, “necessary measures should be taken in order to increase the competitiveness and ensure a sustainable economic growth,” so that the accession to the euro currency bring benefits to Romanians.
Florin Georgescu, First Deputy Governor of the National Bank, also wants Romania to adopt the European Union sooner, because it will bring “welfare” to citizens and a sustainable economic recovery.
Florin Gerogescu’s position is not in line with that of Governor Mugur Isarescu, who did everything he could to delay Romania’s joining the eurozone. And other members of the Board of Directors of the National Bank of Romania led and campaigned against the government for the pro-euro attitude and for Romania to remain outside the club of states that adopted the euro.
“We consider that Romania’s option for faster entry into the euro anteroom and then adoption of the euro represents the integration into a virtuous chain, having the following structure: – discipline in the application of macroeconomic policies and structural reforms (in particular the recapitalization of the firms sector and the fiscal consolidation) – increasing confidence between citizens and their state institutions – national reconciliation – sustainable economic recovery – accelerated real convergence – sustainable citizenship, “Florin Georgescu said at an event organized on Monday at the Academy of Economic Studies, where he received a diploma of excellence and the distinction “Scientific researcher of 2018” from the General Association of Economists of Romania

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