Romanian president: The five criteria alone for joining Eurozone are not enough, economic competitiveness needed

Romanian president Traian Basescu believes the country will fulfill all five requirements to join the Eurozone in 2015. Currently, Romania fulfills four of the five criteria, but other countries’ experience in joining the Eurozone showed that it is not enough to comply with the five criteria, said Basescu. He gave Greece, Poland and Spain as examples of countries which joined the Eurozone but which did not resist under a very competitive environment, as their economies were not competitive enough. However, for Romania, there are reasons for optimism on economic competitiveness, the president added. Earlier this month, Romania pledged to join the Eurozone on January 1, 2019. BVB president believes Romania’s Eurozone entry should be a national project, analysts think it’s a very difficult task Romanian PM: 2019, new, ‘pretty realistic objective’ for joining eurozone editor@romania-insider.com