The Romanian government has announced plans to join the eurozone

Eurozone

The eurozone , officially called the euro area, is an economic and monetary union of seventeen European Union member states that have adopted the euro as their common currency and sole legal tender...

 by 2015. Currently, the leu

Romanian leu

The leu is the currency of Romania. It is subdivided into 100 bani . The name of the currency means "lion". On 1 July 2005, Romania underwent a currency reform, switching from the previous leu to a new leu . 1 RON is equal to 10,000 ROL...

 is not yet part of ERM II but plans to join after 2012. The president of the ECB

European Central Bank

The European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...

 said in June 2007, that "Romania has a lot of homework to do ... over a number of years" before joining ERM II.

To simplify future adjustments to ATMs at the adoption of the euro, when the Romanian new leu

Romanian leu

The leu is the currency of Romania. It is subdivided into 100 bani . The name of the currency means "lion". On 1 July 2005, Romania underwent a currency reform, switching from the previous leu to a new leu . 1 RON is equal to 10,000 ROL...

 was adopted in 2005 (at 10,000 old lei to 1 new leu) the new banknotes were issued to the same physical dimensions as euro banknotes, except the 200 lei bill, with no euro corespondent. The old leu notes were a little wider than the new notes.

Coins design

Romanian euro coins

Euro coins

There are eight euro coin denominations, ranging from one cent to two euros . The coins first came into use in 2002. They have a common reverse, portraying a map of Europe, but each country in the eurozone has its own design on the obverse, which means that each coin has a variety of different...

 have not yet been designed. Romanian law requires that the coat of arms

Coat of arms of Romania

The coat of arms of Romania was adopted in the Romanian Parliament on 10 September 1992 as a representative coat of arms for Romania. It is based on the Lesser Coat of Arms of the Kingdom of Romania , redesigned by Victor Dima. As a central element it shows a golden aquila holding a cross in its...

 of the country be used on coin designs. The European currency is called in Romanian euro ˈe.uro, and its subunit eurocent e.uroˈt͡ʃent.

Status

The Maastricht Treaty

Maastricht Treaty

The Maastricht Treaty was signed on 7 February 1992 by the members of the European Community in Maastricht, Netherlands. On 9–10 December 1991, the same city hosted the European Council which drafted the treaty...

 originally required that all members of the European Union

European Union

The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...

 join the euro once certain economic criteria

Convergence criteria

The euro convergence criteria are the criteria for European Union member states to enter the third stage of European Economic and Monetary Union and adopt the euro as their currency...

 are met. Romania meets 2 out of the 5 criteria.

	Convergence criteria					Obligation to adopt 4	| Target date		Euro coins Euro coins There are eight euro coin denominations, ranging from one cent to two euros . The coins first came into use in 2002. They have a common reverse, portraying a map of Europe, but each country in the eurozone has its own design on the obverse, which means that each coin has a variety of different...  design
Country 1	|Inflation rate Inflation rate In economics, the inflation rate is a measure of inflation, the rate of increase of a price index . It is the percentage rate of change in price level over time. The rate of decrease in the purchasing power of money is approximately equal.The inflation rate is used to calculate the real interest... ²	Government Government Government refers to the legislators, administrators, and arbitrators in the administrative bureaucracy who control a state at a given time, and to the system of government by which they are organized...  finances	ERM II European Exchange Rate Mechanism The European Exchange Rate Mechanism, ERM, was a system introduced by the European Community in March 1979, as part of the European Monetary System , to reduce exchange rate variability and achieve monetary stability in Europe, in preparation for Economic and Monetary Union and the introduction of...  membership	Interest rate Interest rate An interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender. For example, a small company borrows capital from a bank to buy new assets for their business, and in return the lender receives interest at a predetermined interest rate for...  ³	recommended by the Commission European Commission The European Commission is the executive body of the European Union. The body is responsible for proposing legislation, implementing decisions, upholding the Union's treaties and the general day-to-day running of the Union....
		annual government budget deficit to GDP Gross domestic product Gross domestic product refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living....	gross government debt Government debt Government debt is money owed by a central government. In the US, "government debt" may also refer to the debt of a municipal or local government...  to GDP Gross domestic product Gross domestic product refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living....
Reference value 5	max 3.0%	max. 3%	max. 60%	min. 2 years	max 6.4%	NA	NA	NA	NA
							2015	NA	in progress Romanian euro coins The Romanian government has announced plans to join the eurozone by 2015. Currently, the leu is not yet part of ERM II but plans to join after 2012. The president of the ECB said in June 2007, that "Romania has a lot of homework to do .....

¹ Current EU member states that have not yet adopted the Euro, candidates and official potential candidates.

² No more than 1.5% higher than the 3 best-performing EU member states.

³ No more than 2% higher than the 3 best-performing EU member states.

⁴ Formal obligation for Euro adoption in the country EU Treaty of Accession

Treaty of Accession

The Treaty of Accession can refer to the following treaties of the European Union:*Treaty of Accession 2005*Treaty of Accession 2003The following Acts of Accession:*Acts of Accession of Denmark, Ireland and the United Kingdom, signed on 22 January 1972...

or the Framework for membership negotiations.

⁵ Values as of 2010. To be updated each year.