The global financial crisis and its implications on the convergence of Romania with the economic and monetary union

Veronel Avram and Marioara Avram
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Marioara Avram: University of Craiova

Finante - provocarile viitorului (Finance - Challenges of the Future), 2010, vol. 1, issue 11, 162-168

Abstract: The international financial crisis has affected the new member States of the European Union as well, for which the convergence criteria represent the economic test of evaluation of a degree of economic preparation, in order to participate in the third stage of the Economic and Monetary Union. This paper analyses the main evolutions recorded by Romania under the conditions of the global financial crisis, regarding the stability of the prices, the long term interests, the budget deficit, the level of the public debt in the Gross Domestic Product, the stability of the change and the degree of the preparation of the National Central Bank for the adherence to the Eurosystem. We are trying to identify a series of challenges and risks which are brought by the international financial crisis during the chosen period by the Romanian authorities for the adoption of the unique European currency, respectively 2014-2015.

Keywords: institutional convergence; the real convergence; the nominal convergence; the convergence criteria (search for similar items in EconPapers)
JEL-codes: E58 F59 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:aio:fpvfcf:v:1:y:2010:i:11:p:162-168

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