CNP: Romania should join Exchange Rate Mechanism II to switch over to the euro in 2017-2020 -
 Home Page  | News  | Exchange Rates  | Interbank Rates  | Central Banks  | Capital Markets Authorities  | Romanian Banks  | Archive  | Romanian  
 Finance-Banks  | Economy  | Business  | Capital Markets  | Real Estate  | Cars  | Travel  | HR Careers Education  | Media  | IT & C  | Environment 

News » December, 2012 » 14 December 2012

CNP: Romania should join Exchange Rate Mechanism II to switch over to the euro in 2017-2020
14.12.2012, 14:25 | Finance-Banks | 630 views

Romania should join the Exchange Rate Mechanism II in order to be able to switch over to the European single currency some time in 2017-2020, according to findings in a study called ‘The balance exchange rate and its factors – Case study Romania,’ released on Thursday by the National Economic Projections Board (CNP).

‘Romania will be able to halve the pace of growth in the current-account deficit in 2018-2020. In terms of purchasing power parity, services are only one third in line with the prices in the Eurozone, while in 2020 they are projected to reach 50 percent,’ reads the study coordinated by Chairman of the Bucharest Stock Exchange (BVB) Lucian Anghel.

He argued that although Romania benefited from flexible exchange rates to cushion the impact of shocks such as the one related to global recession, the factors that relate to non-price competitiveness in the medium and long term will determine export performance.


Latest news in category Finance-Banks

19.10.2016, ora 00:00 | 830 vizualizări
NBR governor disregards his own advice
NBR governor Mugur Isărescu apparently ignores the fact that banks are refusing to negotiate with their customers and insists, after the passing of the law of giving in payment, that the parties of the loan agreement should negotiate: "Negotiation is the basis of the functioning of the market economy, in the European Union, because that is where we are living. Romania was and has been a loyal partner to the European project and we should not forget that". read more...

22.04.2016, ora 00:00 | 921 vizualizări
Mario Draghi: The ECB obeys the law not politicians
The European Central Bank (ECB) pursues its mandate and defends its independence, according to statements of the president of the institution, Mario Draghi, who responded yesterday, to some criticisms coming from several German officials concerning the lax monetary policy of the ECB. read more...

23.02.2016, ora 00:00 | 839 vizualizări
The pound sterling, in its biggest decline since 2009
The British pound yesterday saw the biggest decline against the dollar since March 2009, after London mayor Boris Johnson, one of the most popular politicians in the country, said he would start a campaign in favor of the United Kingdom leaving the European Union (Brexit) in the referendum scheduled in June. read more...

Subscribe to newsletter
News: Yes  No 
Exchange Rates: Yes  No 

Top news last 7 days

Publicitate pe acest site
Copyright 1999-2020 Pandora Impex SRL.