Is the Estonian model applicable to Romanian  economy in adopting the euro?!

I. Radu; M.L. Ulici; A. Petcu

Authors

I. Radu Babes Bolyai University of Cluj Napoca, Romania
M.L. Ulici Commercial Academy of Satu Mare, Romania
A. Petcu Bucharest Academy of Economic Sciences, Romania

Keywords:

European Monetary Union, common currency, ERM II, sustainable economy, Estonian model

Abstract

Euro adoption has become a logical step toward the integration of each European state in the EU, even though at the time the bail-out is more often discussed. Romania’s new status, which was obtained in 2007, makes it necessary for our country to think twice about its duty on assuring stability and security in the South-Eastern Europe, especially for the Romanian economy. Since the Euro adoption process is a controversial one, in this paper we aim to express our concerns regarding the major changes driven from other member states of the Euro Area, i.e. the Estonian model. Along with this model, our paper attempts to assess the advantages and disadvantages of the Romanian economy and to highlight their effects on ensuring a sustainable development for Romania