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Is Romania Ready for Adopting Euro?

Author

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  • Mihai Rebiga

Abstract

The common monetary policy is applyed in all member states of the Economic and Monetary Union (EMU), having a common institutional system, common European currency and system of regulations that helps them coordinate the banking activities in all EMU. The application of this policy has brought remarkable results so far, settling the monetary market in the euro zone. But, the new European Union member states have to apply these common rules and regulations in order for them to accede to EMU, which could produce both positive and negative effects, especially given that most of their economies are not yet ready for this king of changes. It is Romania’s situation as well, having had the target set on acceding this by 2014. But is the Romanian economy ready for such a change? And how close is Romania to achieving the convergence criteria?

Suggested Citation

  • Mihai Rebiga, 2010. "Is Romania Ready for Adopting Euro?," Studies and Scientific Researches. Economics Edition, "Vasile Alecsandri" University of Bacau, Faculty of Economic Sciences, issue 15.
  • Handle: RePEc:bac:fsecub:10-15-21
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    File URL: http://sceco.ub.ro/DATABASE/repec/pdf/2010/20101521.pdf
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    References listed on IDEAS

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    5. Jesús Crespo Cuaresma & Jarko Fidrmuc & Maria Silgoner, 2008. "Fundamentals, the exchange rate and prospects for the current and future EU enlargements: evidence from Bulgaria, Croatia, Romania and Turkey," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 35(2), pages 195-211, April.
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    More about this item

    Keywords

    Economic and Monetary Union; euro adoption; monetary market; financial crisis; convergence criteria; monetary policy;

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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