From the monetary policy perspective there is no other option for Romania but to join the Eurozone, and the question is when and how, stated Liviu Voinea, Deputy Governor of the National Bank of Romania (BNR) on Wednesday, during "Romania 10 years in the EU. Progress, development perspectives, challenges" forum.
"I would like to clearly express the National Bank's point of view regarding Romania joining the Eurozone. From the monetary policy perspective there is no other option for Romania but to join the Eurozone. We can discuss as to how and when, not in order to postpone sine die, but from our desire to achieve a smooth transition when the economy is sufficiently competitive and prepared," said Liviu Voinea.
The Deputy Governor recounted a discussion he held with a security agent at a pharmacy who asked him whether the transition to the euro will lower his salary. Voinea explained to the latter that by adopting the euro, his salary will not decrease because the local currency, the leu, will disappear, and that way, the salary can only decrease in comparison to other currencies.
"Here we have people preoccupied with the euro transition issue and it is useful to explain what this transition involves in the smallest details. It is not the first time I am being asked about palpable things in relation to the euro transition. For example I have a cousin in Drobeta-Turnu Severin, pensioners, both him and his wife, who is concerned by the fact that his wife's pension, of 900 lei, will be turned into two 100-euro banknotes. Although having the same value, the psychological impact of seeing that after a life time's work one receives two pieces of paper is not to be underestimated. And these real-life examples speak about the fact that the transition to the euro is not just a simple replacement of banknotes or change. It is a complex process, with the most diverse and profound implications and undoubtedly it can only be triggered by a political decision relying on a widespread consensus in society," added Liviu Voinea.
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