President Traian Basescu to confirm in Frankfurt Romania's plan to join Eurozone in 2014

Basescu added this objective is not easy to achieve taking into consideration the European economic situation in general.

The central bank's governor (BNR) Mugur Isarescu said in February Romania might need to postpone entering the Eurozone, a goal set for 2014, in the event it misses the inflation target in 2008 and 2009.

He said last week Romanian politicians should start taking responsibility over the country's target to join the Eurozone in 2014 in order to meet the deadline and take into consideration that a nominal convergence is not sustainable without a real one.

Isarescu explained that assuming the target to adopt the sole European currency does not imply a written pledge, instead the government should establish some adequate objectives and policies.

Romania wants to join the Eurozone in 2014 and should access the Exchange Rate Mechanism (ERM2) two years earlier. Romania must comply with some nominal convergence criteria which require a maximum 3 percent of the GDP budget deficit.

Source:NewsIn