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Euro accession

     EU Eurozone
     EU states obliged to join the Eurozone (includes Romania)
     EU state with an opt-out on Eurozone participation (2)
     States outside the EU with issuing rights (3)
     Other non-EU users of euro (4)

The Government of Romania has announced plans to join the eurozone by 2015. Currently, the Romanian leu is not a part of the European Exchange Rate Mechanism (ERM II), but plans to join after 2012. Jean-Claude Trichet, the current president of the European Central Bank, said in June 2007 that "Romania has a lot of homework to do ... over a number of years" before joining ERM II.

To make future adjustments simpler for ATMs when Romania adopts the euro, the new Romanian leu notes issued in 2005 were produced using the same physical proportions as the corresponding values of the euro, excluding the 200 lei note, which does not have a euro correspondent. The old notes were a little wider than the new ones.

Euro coinsEdit

Currently, the Romanian euro coins have yet to be designed, but by law, the Romanian coat of arms will need to be present somewhere on the coin. The name of the European currency in Romanian is euro, while the subunit is the eurocent.

Fulfilling criteriaEdit

Romania is liable to adopt the euro due to its involvement in the European Union. However, before such an adoption can be put into effect, Romania must meet all five of the terms of the Maastricht criteria.

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Convergence criteria
Country Inflation rate Government Finances ERM II membership Interest rate
annual government deficit to GDP gross government debt to GDP
Reference value maximum 2.5% maximum 3% maximum 60% minimum 2 years maximum 4.81%
Flag of Romania
Romania
3.9% 2.9% 37.8% 0 years 6.43%

ReferencesEdit

Template:Euro

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Romanian leu
Banknotes 10 b25 b50 b1 L2 L5 L10 L25 L50 L100 L200 L500 L1000 L2000 L5000 L10,000 L50,000 L100,000 L500,000 L1,000,000 L5,000,000 L
Coins 1 b2 b3 b5 b10 b15 b20 b25 b50 b1 L2 L3 L 5 L10 L20 L50 L100 L200 L250 L500 L1000 L2000 L5,000 L10,000 L25,000 L100,000 L
Miscellaneous National Bank of RomaniaMonetăria StatuluiRomania and the euro

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