The adoption of the euro in 2015 remains the only calendar withclear deadlines for the reforms needed to curb public spending, aswell as for the modernisation of the economy, after two importantmilestones have been reached: the NATO accession in 2004 and theEuropean Union accession in 2007.
The Government has undertaken this target again, which it settogether with the National Bank during a meeting held to approvethe Convergence Programme for 2009-2012, on Monday night, which isoutside the usual schedule.
Whereas Romania did have a multi-annual reform and developmentprogramme between 2000-2007, in order to join the European Union,no long-term strategy has been continued since then. The onlyanchor-programme is now the single currency adoption programme.
With more than one of third of the people's and companies'deposits held in euros and a large part of prices from telephonyservices to cars and buildings - calculated in euros, too, theRomanian economy is already moving towards the single currency.
The adoption of the euro, however, entails reaching a set offive quantitative criteria regarding the main macroeconomicindicators - low inflation and interests, stable exchange rate,sustainable budget deficit and public debt.
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