Abstract:

According to the Maastricht Treaty, the states that become members of the EU benefit from a temporary derogation concerning the common currency. This means that, at a certain time after the adhesion, the new member states will enter ERM II, and then, depending on whether they meet the nominal convergence criteria, they will take on the Euro currency.  Considering the stage that Romania is going through now, it is important that switching to the Euro currency should not be accelerated unnecessarily and adopting the single European currency should not be treated as an end in itself. In addition to achieving the nominal convergence criteria, reaching real convergence in a short period of time should represent the objective of all the policies of the central authorities.