Romania Should Reconsider Euro Adoption Calendar

According to Romanian President Traian Basescu, authorities should rethink the country’s euro adoption calendar, beacause Romania has not yet resolved its structural deficits problem.

 

Basescu said that although Romania can meet eurozone entry criteria by 2014 (a deficit of maximum 3% and a public debt of less than 60% of GDP), the country's economy and finances may not be strong enough by then to deal with euro entry.

 

"Personally, I think the country's euro adoption calendar must be reexamined because we haven't solved our structural deficits," Basescu said.