CONSOLIDAREA MONETARĂ MONDIALĂ ŞI PROBLEME ALE TRANZIŢIEI ROMÂNIEI LA MONEDA REGIONALĂ

Abstract

As the pressure of the currency consolidation increased in the years 1990, the world became aware that the world currency system, with 178 separate national currencies, became too costly, both for the domestic economies and for the world economy. The high costs and great vulnerability of the national currencies determined the financial and economic business of small open economies to move into the major currencies of the world. The euro is the first great success of a regional currency with a large potential in the international finance. Romania needs to overcome many problems to get through the stages required for the euro adoption. They range from the problem of standardising the macro and micro economic policies and adjusting the business cycle in line with the business cycle of the euro zone to the problem of putting on track the role and the functions of the national central bank according to the Eurosystem standards, of the preparing to join to the Exchange Rate Mechanism II and to meat the convergence criteria. Romania must very seriously get prepared in a shorter period of time for the advantage of adopting the euro and also for losing inter alia its national monetary policy and capital markets.

Keywords

• economic and monetary coordination
• ERM II mechanism
• unification of official monetary standards
• capital movement liberalization
• monetary policy
• central bank
• central single currency