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Adrian Mitroi: Romania has to access the euro zone as soon as possible: the time for the national currency has passed

Romania has to use the whole political cycle and adopt the euro as soon as possible as all counterarguments for delay for accession to the single currency are less valid and relevant today, considers Adrian Mitroi, professor in behavioural finances at the ASE in an interview offered to Agerpres.

He stated that Romania needs capital in euro to finance the big projects of infrastructure, namely the ones generated by the growth of economy for the new political and economic cycle , but the ‘money for such things are given in euro mainly’.

‘As the political follows the economic, I think that our opportunity is to start accession to the euro immediately. To use the whole political cycle and access the euro as soon as possible if we are allowed, both by our economic performances and the interest of our partners’ Mitroi said.

According to him, there is need for capital in euro to finance the big infrastructure projects, the ones generated by economic growth supported for the new political and economic cycle, and the money for this is especially given in euro. There is financing in lei only for short and medium term, even if at very good prices, anyway not enough for the financing needs of real economic growth’. I think with all respect that the time for the national currency has passed’ said Mitroi.

‘We are an important player in GDP and Gross national product.We have over 4 million people who contribute to the gross national product of the European Union and we have a very good say in this combination. I think the business plan which the Romanian political side should have is a strictly economic and security one, which should prioritise the relation and the closeness with the economic, military, North Atlantic and European political and security structures, - it seems very clear what we have to do: euro, closer to the EU with a louder voice, with the main idea of profoundly changing the infrastructure, which is a key element for national security’ professor Mitroi says.

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