President Enacts Bill Establishing Committee For Accesion To The Eurozone

Romanian President Klaus Iohannis enacted on Monday a decree which establishes a national committee for the country’s adoption of the Euro currency, and also sets a calendar for acceding to the EU’s Exchange Rate Mechanism (ERM II).

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The committee, while established to a purely consultative organism, will be required to approve a timetable for acceding to ERM II, which is one of the necessary conditions for a country which wishes to adopt the European currency.

The body will also be tasked with drafting, until November 15, a tentative calendar for adopting the Euro and a national plan in this regard, which will then be subjected to the approval of the Government and the Parliament.

Romanian Finance Minister Eugen Teodorovici said on Friday that the ministry decided for the country to adopt the Euro in 2024, adding that the full calendar of the transition stages would be presented this week.

“It will happen in 2024. This is the official calendar (…) This was discussed in the party committee meeting,” Teodorovici said during a press statement at the 26th edition of the “National Ranking of Romanian Private Companies 2017”, hosted by the National Council of Romanian Small And Medium-Sized Enterprises.

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