Romania’s C-bank Governor Affirms 2014-2015 as Eurozone Entry Target - Media

“I think that despite the difficulties, it [the Eurozone entry target] will be achieved. I also believe that it can be the necessary catalyst for the coherence of macroeconomic policies,” Ziarul Financiar daily quoted Isarescu as telling Romania's Parliament, which endorsed him for a new term on Thursday.

Isarescu has previously said that EU member Romania would join the ERM-2 exchange rate mechanism, the so-called euro waiting room, in 2012, before adopting the common European currency, the euro, in 2014.

The southeastern European country must meet the Maastricht criteria on inflation, public debt, budget deficit, currency stability and interest rates to qualify for adoption of the euro currency. The Maastricht criteria require that the annual inflation should not exceed the average for the three best performing countries in the EU plus 1.5 percentage points, and the budget deficit should not exceed 3.0% of the gross domestic product (GDP).