ECONOMY FINANCE&BANKING

Central bank’s Isarescu: Truth is Romania was not ready to join EU in 2007

Romania was not ready to join the European Union in 2007, said the National Bank of Romania (BNR) governor, Mugur Isarescu, on August 26, in Alba Iulia, County of Alba.

And yet, added he, if we didn’t, nobody knows whether this thing would have happened afterwards.

“Truth is we were not prepared to join the EU in 2007. We have liberalized the capital account, considering a higher inflation, but if we didn’t join the EU in 2007 I’m not sure we have ever entered and for this I take all responsibility, because it was I as a Prime Minister (in 2000 – editor’s note) who had negotiated the year 2007 with Romano Prodi (the president of the European Commission in 2000 – editor’s note) and he warned me several times that we were not ready (…) to join the European Union,” said the BNR head.

Mugur Isarescu delivered on Friday night in Alba Iulia on the Roman-Catholic Cathedral’s esplanade a lecture on “The pathway of the Romanian economy and the National Bank of Romania towards modernity and towards Europe,too.”

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