Mugur Isărescu, the governor of the National Bank of Romania (BNR) predicted yesterday that Romania would adopt the euro sometime between 2012 and 2014, possibly joining the Exchange Rate Mechanism II as early as 2010.
In July 2004, Romania will revalue its currency, the leu, so that 10,000 old lei will equal 1 new leu, with 1 euro being equal to approximately 3.6 new lei. Dual pricing, in both the old leu and the new leu, has already been introduced from March 2005. The transition to the new leu is expected to stabilise the Romanian currency and prepare the country for euro adoption.
After Isărescu's declaration, many people commented that they were surprised by how late the target date for euro adoption had been set, being 7-9 years away. However, Isărescu responded by stating that the new Central European members of the European Union, which joined in 2004, have not yet joined the euro, and that countries such as the Czech Republic, Poland and Hungary are only expected to adopt the currency between 2008-2010, 4-6 years after accession. In Romania's case, the adoption will take place 5–7 years after accession in 2007.

Have an opinion on this story? Share it!
Share this: 






This page is archived, and is no longer publicly editable.
Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Romania to adopt euro between 2012 and 2014