Financial Times: Eastern European states postpone decision to join euro

Eastern European states postpone a decision to join euro and Romania’s target to join euro zone in 2015 is beyond surface, a useful mechanism to control the governing coalition to keep the state’s pockets in check before elections, Financial Times reads, quoted by Romanian news agency Mediafax.

President Basescu declared for FT that even though Romania can comply with the fiscal criteria for the euro zone it will analyze carefully whether it is in its own interest to do so. It is easy to meet the criteria on the budgetary deficit and inflation but we need to see how competitive the economy is, Basescu said.

Besides Romania, most states in Central and Eastern Europe postpone silently objectives to join the euro.