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Central bank governor: Progress needed in 2011 for Romania to join euro

de V.O.     HotNews.ro
Marţi, 4 ianuarie 2011, 16:53 English | Business

Romania needs to report further progress in 2011 so that it keep up with plans to join the euro in 2015, but reforms might take two years, which may change the date of euro adoption, Romanian National Bank (BNR) Governor Mugur Isarescu said on Tuesday.

He said on the occasion of the 10th anniversary of the European Institute in Romania that the country will have to shorten the time of development in order to join the euro. Isarescu said the Central Bank has kept the objective of euro adoption in 2015 and that it was acting towards that goal.

Meanwhile, BNR governor's aide Adrian Vasilescu was quoted by Romanian news agency Agerpres on Tuesday as saying that 2011 would be the hardest from an economic perspective as two fronts are shaping up in this battle: overcoming the recession and balancing the budget.

He said that the main fight will be the one to halve the inflation rate as compared to 2010.




















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