THE CURRENT STATE OF CONVERGENCE IN THE EASTERN EUROPEAN COUNTRIES. ROMANIA’S STRATEGY FOR CHANGEOVER

Abstract

The whole process of euro adoption, which requires the strict fulfillment of formal criteria, wasdesigned in order to reduce the risk of weakening or even destabilising the European monetary system byintegrating some serious imbalanced ecomonies, while at the same time safeguarding the economies of thecountries adhering to euro from the possible shocks resulting from any direct confrontation with the euroarea. In this paper I aim to achieving a pragmatic and analytical study on the performance of Europeancountries, as well as the analysis of relevant indicators in order to meet the convergence criteria of the appliedmonetary policy, thus emphasizing Romanian strategy to adopt the euro, in the actual context when Romaniadoesn’t fulfill the nominal convergence criteria ogf the eurozone.Regarding the convergence criteria, Romaniafinds itself last in the Eastern European countries raw, fulfilling only the public debt criteria.

Keywords

• convergence criteria
• eurozone
• Romanian monetary strategy
• Eastern-European countries