Romania and the Eurozone Accession:The Nominal Convergence Criteria

Through the Treaty of Accession to the European Union, Romania has committed to adopt the European currency.The purpose is to analyze how Romania meets the nominal convergence criteria necessary for the admission to the eurozone.Romania has postponed the deadlines set for joining the eurozone several times, raising questions regarding the capacity of the Romanian economy and political decision-makers to make the optimal decisions to meet the nominal convergence criteria.This research is predominantly conceptual, but it also includes elements of empirical testing.We would mention that the analysis of the nominal convergence criteria alone is not sufficient to determine whether a country is ready or not for euro adoption; a complete analysis should also take into account the analysis of the real convergence criteria as well as the cost and benefits of this process.