Romanian governor calls for adjustments before joining ERM II
Mugur Isărescu says aim of adopting euro in January 2019 is ‘highly ambitious’
Romania needs to complete "major economic policy adjustments" before joining the European Exchange Rate Mechanism (ERM II), according to central bank governor Mugur Isărescu, who believes the target date for euro adoption of January 1, 2019, is "highly ambitious".
A member of the European Union must participate in ERM II for at least two years before it is allowed to adopt the euro, and Isărescu highlighted a host of reforms he believes Romania must complete before taking that step.
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