Alongside six other countries 1 , Romania counts among the EU Member States required to adopt the euro, which actually implies full membership of the Economic and Monetary Union (EMU), once all the necessary conditions, i.e. nominal2 , legal and real3 convergence criteria, have been fulfilled. The latter criteria are not explicitly stated in the relevant EU legislation, yet they are becoming increasingly important in assessing the preparedness of a country for euro changeover. In fact, the Convergence Reports released every two years by the European Central Bank and the European Commission have been focusing more and more on real convergence. Therefore, in the run-up to the adoption of the single currency, the national economy must undergo the adjustments needed for integration into the euro area, including broad-based structural reforms affecting its overall competitiveness.
At the time 
the ECB’s 2020 Convergence Report was drawn up, Romania fulfilled only part of the nominal and legal convergence criteria.
The 2021-2024 Convergence Programme states that Romania maintains its commitment to join the eurozone, but the Government’s efforts are focused on minimizing the negative social and economic effects of the COVID19 pandemic.
At national level, preparations for euro adoption are coordinated by the Inter-ministerial Committee for Changeover to the Euro, chaired by the Prime Minister, comprising the Minister of Public Finance, the NBR Governor, heads or their representatives in the executive management of other public authorities and institutions, as well as representatives of employers’ associations and trade unions. The Inter-ministerial Committee was established in May 2011. In December 2016, Government Decision No. 931/2016 was passed, providing for the Committee’s composition, organisation and main tasks. Furthermore, by Government Emergency Ordinance No. 24/2018 the National Commission to substantiate the National Plan for the adoption of the euro4 was established in order to identify the actions and promote the reforms necessary for the modernization of the Romanian economy for the changeover to the euro. The National Commission is headed by the Prime Minister and the President of the Romanian Academy as Co-Chairs, respectively by the Governor of the National Bank of Romania and a Deputy Prime Minister, appointed by the Prime Minister by decision, as Vice-Presidents. The National Commission drafted the background report and the National Plan for the adoption of the euro, strategic documents that were approved by the Government of Romania on January 30, 2019. The conclusion of the Report is that through persistent efforts and solidarity of social forces, there are premises that, by 2024, Romania will be able to meet the fundamental requirements for the adoption of the euro.
Moreover, a Committee for Preparing the Changeover to the Euro was set up at the NBR in February 2010 as a formal discussion forum on topics related to nominal and real convergence. It is meant to provide support for the central bank’s endeavours related to Romania’s achieving full membership of the EMU.