Romania and the euro


Romania and the euro

The leu is not yet part of ERM II. The Romanian government has announced plans to join the eurozone by 2014. The plan also stipulates to adhere to the ERM-II no sooner than 2012. [ cite web| url = http://www.guv.ro/presa/afis-doc.php?idpresa=52777&idrubricapresa=1&idrubricaprimm=&idtema=&tip=&pag=&dr=
title = "Guvernul a aprobat Programul de convergenţă" (The Government of Romania approves Convergence Plan)| date = 2007-01-24
accessdate = 2007-01-25| publisher = Press release of the Romanian Government| language = Romanian
] The president of the ECB said in June 2007, that "Romania has a lot of homework to do ... over a number of years" before joining ERM II. [cite news |title=ECB: Introductory statement with Q&A|url=http://www.ecb.int/press/pressconf/2007/html/is070606.en.html |publisher=ECB |date=2007-06-06 |accessdate=2007-07-21 |language=English ]

To simplify future adjustments to ATMs at the adoption of the euro, when the Romanian new leu was adopted in 2005 (at 10,000 old lei to 1 new leu) the new banknotes were issued to the same physical proportions as euro banknotes. The old leu notes were a little wider than the new notes.

Romanian euro coins have not yet been designed. Romanian law requires that the coat of arms of the country be used on coin designs. [Chamber of Deputies of Romania, [http://www.cdep.ro/pls/legis/legis_pck.htp_act_text?idt=13190 Law No. 102/September 21, 1992 regarding the Country Coat of Arms and the State Seal] , Article 4] The European currency is called in Romanian "euro" [IPA|'eˑuro] and its subunit "eurocent" [IPA|'eˑurotʃ'ent] .

References


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