Project Management of Romanias Transition to Euro: Insights, Solutions, Cost-Benefit Analysis

Abstract

This paper addresses a pressing topic of present times on Romania's need to fulfill the European integration objective, namely to adopt the single European currency, euro. This paper addresses several key aspects of the economic context and then, based on reliable data, analyzes the stage of completion of the criteria of nominal convergence viewed from two perspectives. One perspective is on the absolute completion of these criteria and another from a relative completion, with reference to the percentage of effectiveness for achieving the criteria. Although this second method is not mentioned in EU's operating documents or in the accession and integration documents, we believe that, theoretically, it can be taken into account and may be an argument in favor of taking a political decision to accelerate Romania's transition to the single European currency. The paper discusses the advantages and disadvantages of the transition to the euro currency, the courses of action for this transition and some conclusions and suggestions. The paper highlights the advantages and benefits of a rapid changeover, the costs of delaying this process, the forces that can put it in a firmer motion.