Leu Versus Euro In The Light Of Romania Joining E.M.U. And The Global Financial Crisis
AbstractThe european single currency has marked and will continue to mark significant changes european countries, including those who are not yet included in the euro area, but which apply to European economic and monetary integration. The status of member state of the European Union from the 1st of January 2007 supposes that Romania will align the Economic and Monetary Union’s requirements in the frame of assuming the adopting of the european single currency in time horizon 2014. The present paper aims to offer an overview of the euro/romanian leu exchange rate evolution having as departure point Romania’s adhesion moment to European Union, the 1st of January 2007, outlining the main factors of influence that have led the trend of appreciation or depreciation of the national currency against european single currency under the economic and financial crisis. In the frame of the current international crisis Romania’s adhesion to the Economic and Monetary Union (EMU) in 2014 might be affected, resulting in increased effort it involves the performance criteria for nominal convergence.
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Bibliographic InfoArticle provided by Romanian-American University in its journal Romanian Economic and Business Review.
Volume (Year): 4 (2009)
Issue (Month): 3 (September)
european single currency; Economic and Monetary Union; euro/leu exchange rate; global financial crisis;
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