EU Commissioner believes the euro will be difficult to adopt in 2014 without efficient policies

“The Commission believes that if further strong measures are not taken, and there is not a significant rise in efficiency in budget and fiscal policies, the goal to implement the interim mechanism in 2012 and join the euro-zone in 2014 will be difficult to reach,” the Commissioner said during a debate on the Lisbon Strategy aimed at boosting the EU economy.

President Traian Basescu, who also attended the debate, said that Romania should openly state that it plans to join the euro-zone in 2014. However, he warned that the target is only realistic as long as the authorities responsibly manage public spending and if “coherent” tools to for budget planning and action are implemented.

Earlier this year, the Governor of Romania’s National Bank (BNR), Mugur Isarescu, said Romania could miss the euro-zone accession target unless it manages to substantially cut inflation in 2008 and 2009. (NewsIn)