Romania postpones the adoption of the euro again

by   CIJ News iDesk V
2021-01-12   16:27

RRomania will have to restore its macroeconomic balance, including by combating the negative effects generated by the Covid-19 pandemic and by implementing the National Recovery and Resilience Plan, and only then will it establish a (new) timetable for joining the euro area. Currently, Romania does not meet any of the nominal criteria necessary for the changeover to the euro, according to the latest data. In addition, a number of other factors, including macroeconomic imbalances and the lack of predictability of the legislative framework, make Romania unprepared for the euro area.
Moreover, "Romanian legislation is not fully compatible with the Treaty on the Functioning of the European Union", it is shown in an official document recently drafted by the Ministry of Public Finance.