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July 23, 2021
BUSINESS

Gov’t maintains goal of adopting EUR in 2015

National Bank of Romania (BNR) Governor Mugur Isarescu forwarded the option of having EUR in circulation simultaneously with RON until December 1, 2015, the European currency set to remain the only one in circulation after that date.

During a special meeting on Friday the government approved Romania’s convergence programme that will be filed to the European Commission and decided to maintain the goal of adopting the EUR in 2015, official sources stated, Mediafax informs. Premier Emil Boc subsequently confirmed the government’s decision to maintain that goal following its consultations with the Presidency and the National Bank. At the same time, he pointed out that the exact date – whether January 1, 2015, or another one – will be set later following talks with “European partners.” He also underlined that it was decided to create a committee that will monitor the fulfillment of the obligations entailed by the accession to the Euro Zone in order for Romania to be prepared to do that in 2015. The committee will be led by the Prime Minister and will consist of the BNR Governor (as its Vice President), the Deputy Prime Minister, the Ministers of Finance, Economy, Labor, Education, Justice and Administration, as well as representatives of the Department of European Affairs, the National Statistics Institute and the Prime Minister’s office.

Premier Boc also stated that the adoption of the EUR will result in interest rates dropping and has nothing to do with price hikes. In his turn, Finance Minister Gheorghe Ialomitianu stated that adopting the EUR has a lot of benefits, such as low interest rates or the fact that Romanian importers and exports will no longer be affected by exchange rate fluctuations, the ‘Bursa’ daily writes. “Once the EUR is adopted economic growth and competitiveness boosting measures will be put into practice,” the Minister explained.

Also on Friday the coalition discussed the option of putting the EUR into circulation by the end of this year, Varujan Pambuccian, leader of the group of MPs representing national minorities, stated. The idea is backed by Governor Mugur Isarescu too. The latter forwarded the option of having EUR in circulation simultaneously with the RON until December 1, 2015, the European currency set to remain the only one in circulation after that date.

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