EU's Van Rompuy encourages Romania to continue with its efforts to join the eurozone

Visiting President of the European Council Herman Van Rompuy on Thursday encouraged Romania to continue with its efforts to join the eurozone, saying that the country has made progress in meeting the convergence criteria, Xinhua reported."It is important for Romania to stay as...

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EU's Van Rompuy encourages Romania to continue with its efforts to join the eurozone



bne - 26.04.2013

Visiting President of the European Council Herman Van Rompuy on Thursday encouraged Romania to continue with its efforts to join the eurozone, saying that the country has made progress in meeting the convergence criteria, Xinhua reported.

"It is important for Romania to stay as close as possible to the euro area developments in order to ensure a good preparation for entry," said Van Rompuy in a press statement after his meeting with Romanian Prime Minister Victor Ponta.

Romania had hoped to adopt the single European currency by 2015. However, with persistent financial and economic troubles within the euro bloc, Romanian officials now believe that the country may not be ready to do so before 2020.

The EC president, in Bucharest for a one-day working visit, also stressed the importance of a eurozone banking union that will help restore normal lending conditions to European economies.

"The banking union will not only set clear rules for future handling of crises, but also lead to a more stable financial sector," he said.

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