Vladescu: By year end we shall know if we can adopt euro in 2015

Publish date: 03-05-2010
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Romania will know by the end of the year if it can adopt the euro depending on the way the deficit looks and if the EU conditions referring to the switch to the euro do not change, Minister of Finance Sebastian Vladescu told a TV broadcast.

"If the European Union does not change the conditions for joining the Eurozone and if by 2012 we reach the three percent budget deficit target, we could adopt the euro in 2015. By the end of the year we shall know if this is possible depending on the economic data we shall have at that time," said the Minister of Finance.

In March, through the convergence programme Romania reconfirmed the schedule of adopting the euro in 2015 to the European Union, but after the visit paid to Bucharest by the IMF Managing Director, who suggested postponing Romania's joining the Eurozone, the representatives of the relevant institutions in Romania reconsidered their attitude and one could detect some more shades of meaning in their public declarations on this subject.

According to the Romanian Businessmen's Association (AOAR), Governor of the National Bank of Romania (BNR) Mugur Isarescu himself intimated that adopting the euro could be postponed by 1-2 years and that it was better for Romania not to join the Eurozone if it is not prepared.


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