UniCredit Tiriac Bank CEO Pascariu: We need thorough euro adoption programme
He considers such a programme imposes discipline and rigorousness on any government, the more so as the criteria for euro adoption is quite easy to follow publicly and if it fails the Government responsibility will be highly visible.
Romania’s Central Bank (BNR) and the Government announced 2014 as a possible euro adoption target in Brussels, but the former warned this year that unless inflation was brought back on a solid downward trend, the target could be endangered.
However, he declares himself upbeat about the performance of the economy. As regards RON trend, the banker says he has been surprised by the recent weakness registered amid the dollar’srise against the euro. Pascariu expects fluctuations to continue within a range of 3.4-3.7 RON per euro and considers such volatility does not have negative effects in the economy, the Ziarul financiar reads on.
A correction was necessary, the Ziarul financiar concluded, quoting Pascariu as saying, when referring to the real estate market, where he is involved through an investment in a housing project in Bucharest.