Thursday, February 26, 2009

Romanian Government Considers Accelerating Euro-Adoption Plan

By Irina Savu and Adam Brown

Feb. 25 (Bloomberg) -- Romania’s government may accelerate plans to adopt the euro to more closely link the country’s economy with other members of the European Union, Prime Minister Emil Boc said.

Boc told journalists in Bucharest today that the government aims to decide whether to try to adopt the euro before the current target of 2014. He gave no further details.

Central bank Governor Mugur Isarescu has said the country needs to slow inflation to an annual 3 percent or 4 percent by 2010 to ensure euro adoption in 2014. The annual inflation rate rose to 6.7 percent in January from 6.3 percent in December.

To contact the reporters on this story: Adam Brown in Bucharest at abrown23@bloomberg.net; Irina Savu in Bucharest at isavu@bloomberg.net.

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