President Basescu tells FT Romania sticks to 2015 euro adoption target

Romanian president Traian Basescu said in an interview with the Financial Times the country was maintaining the 2015 target for adopting the euro currency. The declaration comes as other countries in central Europe might delay their own entries into the euro zone. Basescu told the FT that maintaining the 2015 target was important to maintaining the country’s fiscal discipline. He said “2012 is an election year, when politicians can get extremely generous” with public funds, “but the people will have to pay for that generosity after the election”. “Maintaining the objective of 2015 for the euro generates the necessary discipline,” he said.

He also said he was hopeful Romania and Bulgaria will be able to join the Schengen border-free zone by the end of this year, in spite of objections from France and Germany.

More on Basescu’s interview with the FT here.