De la „miraje” la Zona Euro. Isărescu explică greșeala pe care România nu-și mai permite să o repete

Mugur Isărescu, the governor of the National Bank of Romania, warns against the loss of credibility in economic policies, emphasizing the importance of fiscal prudence and sustainable growth. He highlights the dangers of pro-cyclical policies and stresses that real sustainability is crucial for joining the Eurozone. Isărescu recalls a historical warning from 1927 about avoiding economic mirages and the need for careful decision-making. He also reflects on a past experience with the European Central Bank, where superficial compliance with criteria did not guarantee Eurozone entry. The governor concludes that maintaining macroeconomic balances is essential for long-term development and credibility.