Romania could delay the euro adoption until 2016 or 2017, pending outcome of a review of the current target by the government that follows elections this autumn.
Joen Hoey, Economist Intelligence Unit (EIU) senior analyst for Europe, says Romania could face difficulties meeting the convergence criteria for European Central Bank, including its control of inflation, the budget deficit and long-term interest rates.
Before joining the EMU, the country will have to improve its competitiveness, he warns.
