The uploaded article was written for 12th Annual Doctoral Conference of Faculty of Finance and Accounting,
Prague, Czech Republic-2011 and published in the conference proceedings.
The scope of the paper is to highlight the Romanian strategy towards the euro adoption. We structured our article on sections that cover four main research directions. The first one illustrates some general academic remarks about the implications of Romania’s accession to European and Monetary Union; the second underlines the interdependence between nominal and real convergence; the third one offers an analysis of the Maastricht criteria fulfillment present stage and the fourth points out the possible scenarios ex post single currency’ s introduction. We conclude by saying that the decision to join the Eurozone should not be taken only in terms of the ability to achieve the nominal convergence criteria, but also in relation to the progress of real convergence phenomenon. In their absence, the economy will become peripheral, less flexible and unable to manage and eliminate the shocks affecting it.
Key words: economic and monetary union, convergence criteria, optimum currency area, catching-up process, structural reforms, financial system.
JEL classification: E42, E44, F15, F36, F44.
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