Articles on Issue Theme
Aurelian DOCHIA
Cercetător independent
Adopting the Euro is Romania’s most important project in its first decade as an EU member by scope, efforts required and impact. The paper aims to initiate a comprehensive debate on topics related to the Euro adoption by raising questions, examining answers and suggesting solutions on issues such as: what are the costs and benefits to be expected by a country like Romania? What are the arguments derived from the Optimal Currency Area theory? How well prepared is Romania to be part of a currency area? What are the measures to be taken and policies to be implemented in order to achieve the structural adjustment required? What are the pitfalls of the process? How difficult will be to fulfil the Maastricht criteria? And what is to be expected for the Romanian economy once the Euro is adopted? The paper concludes that, given the constraints the EU membership is already placing on the independent monetary policy, it is preferable to adopt the Euro as soon as the Maastricht criteria are met. In order to do that however, a consistent effort is required, driven by strong and continuous political support.
ŒCONOMICA no. 3/2009
Keywords: financial crisis, euro adoption, economic and monetary policies
JEL: F36, E42
The Transition from the Leu to the Euro in the Context of the Global Financial Crisis
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Octavian-Dragomir JORA
Academia de Studii Economice din Bucureşti
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Cătălin MURARAŞU
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