Romania must adopt the Euro , says Governor of the National Bank of Romania

Constantin Mugur Isărescu is the Governor of the National Bank of Romania, a position he held since September 1990, with the exception of an eleven months period, during which he served as Prime Minister of Romania

Attending the “Good Governance Summit” – Constantin Mugur Isărescu who is the Governor of the National Bank of Romania, made the remarks while answering questions from the journalists.

”Its not a question of if Romania will join the Euro-zone, its a questions of when Romania will adopt the European currency. ” – said Mugur Isărescu.

Romania is obliged to adopt the European currency , and unlike other countries like United Kingdom and Denmark, it has no opt outs available to the Romanian government, when dealing with the European Union.

The Romanians are pro-Europeans, in a much lager number than in most countries in European Union , but few particular polls shows that most Romanians will be against the introduction of the Euro if it will lead to increase in prices.

One of the most pro-European countries in the European Union, Romania had had a slow start in reforming an obsolete economy after the 1989 revolution when the communist regime was brought to an end by a popular and violent revolution, compared to other ex-communist countries in Eastern Europe.

The wars in the now -defunct Yugoslavia and Moldavia- Transnistria , in the 1990’s – made the whole region unattractive for foreign inventors.

The European Union membership, together with NATO membership is widely considered as a positive development by the Romanian population.

Romanian currency during the communist regime

The Euro membership will not have many Romanians opposing the euro currency, since the Romanian currency LEU or RON has seen wild fluctuations in terms of value in last 27 years.

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