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Dec 17, 2018

Romania votes to join the Euro

The committee was in favor of a 2024-2026 target date with an overwhelming majority

Romania has voted on a target date for joining the Eurozone.

According to reports, the committee was in favor of a 2024-2026 target date for adopting the Euro with an overwhelming majority.

Romania has regarded the introduction of the Euro as a major importance ever since they joined the EU back in 2007.

During the recent committee meeting, the parliamentary body discussed the documents necessary for preparing for the switch to the official currency of the European Union.

Mugur Isarescu, the Governor of the National Bank of Romania, the board of the Romanian Academy, presidential advisors, leaders of trade unions, representatives of the private sector as well as other organizations were present when making the decision.

The conclusions from the meetings state that Romania has to achieve real convergence, increase their competitiveness, make economic growth sustainable, and join the European exchange rate mechanism.

Hungary is yet to set a date for its shift to the Euro. It was originally thought that it would happened between 2018-2020 but that date has been shifted back due to uncertainty over the country joining the shared currency.