Romania sets 'too optimistic' target to enter Eurozone in 2015, says EBRD chief economist

Romania has set a too optimistic target in joining the Eurozone in 2015, according to Peter Sanfey, chief economist with the European Bank for Reconstruction and Development (EBRD). 'I personally believe the 2015 target is too optimistic for Romania. It is not an easy thing, and problems cannot be solved overnight. If you want to improve the macro economical level, you need to have an adequate legislation,” said Sanfey. He mentioned the tax management among Romania's major issue at the moment. “Tax management is an issue for Romania. It needs to follow the example of other countries, where the fiscal policy runs smoothly. Eastern European has an image problem but, if we look at the last ten years, we can see major positive changes. For the moment, only in Poland and in Turkey one can invest safely. In Romania, maybe in two years,” said Sanfey. Romanian Central Bank (BNR) Governor Mugur Isarescu has recently said Romania still aims to join the Eurozone in 2015, as previously announced. editor@romania-insider.com