Premises and Consequences of the Adoption of the Euro as the Single Currency in Romania

Violeta Elena Dragoi, Lucretia Mariana Constantinescu and Larisa Elena Preda
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Violeta Elena Dragoi: Valahia University of Târgoviste, Romania
Lucretia Mariana Constantinescu: Valahia University of Târgoviste, Romania
Larisa Elena Preda: Valahia University of Târgoviste, Romania

Risk in Contemporary Economy, 2017, 59-73

Abstract: For joining the Economic and Monetary Union, the intermediate objective for Romania is the fulfilment of the requirements of the Treaty of Maastricht which provide the obtaining of concrete results regarding the deficits/budget surpluses, public debt, inflation, the interest rates and the exchange rates. The Euro is the single currency adopted by the 19 Member States of the European Union which together form the euro area or the Eurosystem. The introduction of the euro was an important step for the European integration. The transition to a monetary union based on currency courses irreversibly fixed and the introduction of the single currency has an important impact on the international economic relations. A new framework for the operation of the markets of the European monetary is ensured, contributing to both the integration of the capital markets and to the harmonization of the financial policies. This paper presents an analysis of Romania regarding the criteria for the nominal convergence imposed by Economic and Monetary Union, and the criteria for the real convergence achieved by our country.

Date: 2017
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