Romania: poised for Euro entry at earliest 2016
May 2011 - From the Print Edition
Romania’s Government will find it tough to enter the Euro by its desired date of 1 January 2015, according to a document revealing a possible delay in plans for currency convergence obtained by Mediafax and quoted by Hotnews. The document states that Romania could join the ERM-II, the European mechanism of exchange rates, by 2013 to 2014. The ERM-II is the ante-room before Euro convergence, which requires two years of entry before a country can join the Euro. During this time a national currency must not fluctuate more or less than 15 per cent in value in relation to the Euro. This means Romania is most likely – at the earliest point – to join the Euro in 2016.
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