First session of National Cttee on Changeover to the Euro. PM Dancila: Adopting euro – fundamental objective for Romania’s sustainable development

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The first meeting of the National Committee on the Changeover to the Euro was convened on Thursday, the main topic on the order of the day being “the diagnosis of convergence criteria for the adoption of the single European currency.” The committee’s leadership had convened in a meeting on April 4. That meeting, in which Premier Viorica Dancila and National Bank of Romania (BNR) Governor Mugur Isarescu also took part, established the committee’s organising and functioning regulations as well as the order of the day of the first meeting of the committee.

On Wednesday evening, Premier Viorica Dancila stated on Antena3 that the discussion with the BNR Governor was “relaxed and constructive.” “It was a relaxed, constructive discussion for a project that Liviu Dragnea launched at the PSD conference, a national project that could become the third national project after the NATO and EU accession – the changeover to the euro. We adopted the committee’s regulations, we also established the first meeting, which will take place tomorrow (Thursday – editor’s note). The Governor showed great openness, he told us that within the BNR there is a technical commission that carried out studies that he wants to put at our disposal,” Viorica Dancila said.

Asked whether her discussion with the BNR Governor also tackled Romania’s economic situation, the Premier said: “The purpose of the meeting was the committee, and we talked about nothing else because it wouldn’t have been normal, given this topic. But tackling also this topic is not ruled out.”

According to a press release issued by the Government on April 4, after the meeting of the Committee’s leadership, which included its co-presidents and vice-presidents, the order of the day of the meeting of the National Committee on the Changeover to the Euro on Thursday was set to include “the diagnosis of convergence criteria for the adoption of the single European currency.”

The Executive pointed out that the Emergency Ordinance on setting up the Committee established that it will convene twice a month and that “a joint effort on the part of the Government, Romanian Academy, BNR and the National Prognosis Commission – which forms the Secretariat of the National Committee – is needed in order to have debates of substance and maximum efficiency.”

The Regulations were approved at the meeting of the leadership of the National Committee. The Regulations establish the prerogatives of the working groups and the documents that must be finalised by the committee: the Political Declaration of Committal to the Timetable of Romania’s Accession to the Single Supervisory Mechanism and Euro Area Accession, the National Plan on the Adoption of the Euro Currency, the Draft National Plan on the Adoption of the Euro Currency, the Status Report on the Convergence Criteria, and the Substantiation Report for the National Plan on the Adoption of the Euro Currency.

On March 21, Premier Viorica Dancila announced the setting up of a National Committee for the substantiation of the plan on the changeover to the euro. “I consider that acceding to the euro currency is the most important project after Romania’s accession to the European Union. Consequently, through an emergency ordinance, we will set up the National Committee for the substantiation of the national plan to adopt the euro currency. This committee will have the role to prepare the timetable for Romania’s entry into the Single Mechanism of accession to the euro currency, as well as the necessary actions to prepare the Romanian economy and society for this important step,” Dancila stated.

The Committee will be chaired by two presidents – the Prime Minister and the President of the Romanian Academy – and two vice presidents – the BNR Governor and the Deputy Premier on economic affairs.

 

PM Dancila calls first meeting of euro switchover board important moment regarding country project

 

Prime Minister Viorica Dancila called the first meeting of the national board in charge with Romania’s switchover to the single European currency, the euro, that took place on Thursday “an important moment that regards a country project” around which “all the country’s forces” should unite.

“Thank you for your willingness to participate in the first meeting of the national board dealing with substantiating a national plan for the switchover to the euro. This is an important moment regarding a country project, a project around which all the forces of Romania should unite. And I think we can all affix our signatures to Romania’s third country project, after the country’s accession to NATO and the European Union,” Dancila said at the beginning of the meeting.

At the same time, Dancila presented the agenda of the meeting, which included several items: an opening speech on the role and expectations from the national board, delivered by Dancila; a message from the President of Romania; opinions on the role of the board – its management team – the Romanian Academy and the National Bank of Romania (BNR); diagnosis of convergence criteria for the adoption of the euro conducted by independent expert Aura Socol; debates, proposals for the future work of the board; the board’s internal regulations.

Among the attendees of the meeting were Governor of the National Bank of Romania (BNR) Mugur Isarescu, Deputy Prime Minister Viorel Stefan and Presidential Adviser Leonard Orban.

 

Gov’t: Adoption of the euro is a fundamental objective in terms of Romania’s sustainable development

 

Prime Minister Viorica Dancila underscored on Thursday the importance of the activity of the National Commission for the preparation of Romania’s accession to the Eurozone, given that the adoption of the euro represents a fundamental objective regarding the sustainable development of Romania, reads a Government’s press release.

According to the quoted source, the National Commission to substantiate the National Eurozone Accession Plan, chaired by Prime Minister Viorica Dancila, convened on Thursday at the Victoria Palace.

The meeting was attended by the Governor of the National Bank of Romania (BNR), Mugur Isarescu, representatives of the Romanian Academy, Presidential Administration, parliamentary parties, trade unions, employers’ associations, civil society and academia.

“The prime minister stressed the importance of the activity of the National Commission, given that the adoption of the euro is a fundamental objective in terms of Romania’s sustainable development,” the press release said.

At the same time, the head of the Executive presented the reasons why it is decisive to draw up this year the National Plan for the adoption of the euro: the historical nature – the great national objectives could be achieved only by a nation united around that objective; the opportunity – given the European Commission’s desire to support member countries for convergence and to prepare for entry into the Eurozone.

“A third reason is that Romania will hold the Presidency of the Council of the European Union at the beginning of the next year, a context in which it is desirable to have a National Plan for the adoption of the euro by the end of 2018. Another consideration, but not the last one as importance, regards the complexity of the euro adoption process,” the press release read.

According to the Executive, in the message sent on the occasion of the meeting, President Klaus Iohannis “welcomed the establishment of the Commission to prepare the adoption of the euro in this wider institutional framework meant to favour national consensus to prepare Romania’s joining the Eurozone.”

“The President has appreciated that such a consensual approach to deepening European integration is beneficial for Romania and will support it consistently,” the release mentioned.

The Government also informs that the participants in the meeting stressed that “the goal of joining the Eurozone exceeds the electoral cycle and the entry into the Eurozone must be one of the priority country projects of Romania, which requires broad consensus and coagulation of the whole society.” In this context, BNR Governor Mugur Isarescu, the representatives of the Romanian Academy and political parties said that they would support the preparations for Romania’s joining the Eurozone, the press release said.

According to the quoted source, the meeting also examined the stage of the setting up of the working groups, with members considering that they should become operational as soon as possible in order to provide documents for their debates in the committee meetings.

The National Commission will carry out its work by the end of 2018 and will meet twice a month or as often as necessary.

By November 15, the Commission is to draw up: a Report presenting the current situation in terms of the convergence criteria and substantiation of the National Plan for the adoption of the euro and the Draft National Plan for the adoption of the euro.

“As a result of the permanent consultations in this format and of the completed documents, a political statement for assuming the National Plan for the adoption of the euro will be proposed,” reads the release.