Romania could join the European Exchange Rate Mechanism (ERM), an ante-chamber to the Eurozone, in 2024. The country would then have to stay in this system for at least two years before joining single currency, according to Romania’s National Bank (BNR) governor Mugur Isarescu.

“The reasonable time frame for joining the exchange rate mechanism is 2024. From there, the road only goes forward, whether it takes two years or more,” Isarescu said at a business conference, local News.ro reported.

He added that Romania must be ready to join the euro and that preparing for this moment is not a sprint but a marathon.

The central bank governor has insisted on this analogy in recent weeks after finance minister Eugen Teodorovici announced at the beginning of November that Romania would join the euro in 2024 and said this is the official calendar.

editor@romania-insider.com