Romania seems to have a new deadline for adopting the single currency, after the authorities gave up on the previous target, 2015. Instead, 2019 is now given as a 'pretty realistic objective', according to Prime Minister Victor Ponta.

“We have two options, either the Polish model of saying we don't set a target year, but rather the priorities and we're moving as fast as we can, or the model other countries had, including Romania – we had the 2015 target – which ends up not being respected, so then the option loses credibility [...] I however believe January 1, 2019 is a pretty realistic objective,” said Ponta for a local news channel. The target however must be established together with the Romanian Central Bank BNR and with the business environment.

Romania's euro convergence plan sent to the European Commission does not include a target date, unlike in previous years.

The country's previous scenarios included joining the Exchange Rate Mechanism II in 2013-2014, the stage before joining the eurozone,when a country must comply with the Maastricht Treaty criteria, and its national currency rate should fluctuate by no more than 15 percent against the euro.

editor@romania-insider.com