Isărescu on the transition to the euro: We are ready to do it when society is ready

Governor Mugur Isărescu emphasizes that Romania is not currently ready to adopt the euro, citing the need to reduce the budget deficit below 3%. He notes that while the National Bank is prepared to resume preparations, fiscal stability is crucial. Isărescu recalls past moments when Romania met euro adoption criteria but highlights recent economic challenges, including the pandemic and geopolitical tensions. He stresses that the transition to the euro is a complex political process requiring broad societal support and government involvement. The priority remains fiscal correction to enable future euro adoption.