Romania will be ready to join the European Monetary Union (EMU) after 2011, most likely around 2015, even if it becomes a EU member in 2007, according to a scenario drafted by Lucian Croitoru and Cornel Tarhoaca, advisors to the National Bank of Romania (NBR) Governor. "According to our scenario, Romania will see a 3.5% inflation rate only in 2015. To meet the convergence criteria, the ROL real appreciation is necessary and only in 2015 will we have a gross domestic product (GDP) per capita of 65% of the European average," Lucian Croitoru told a seminar on European integration. ZF
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