TRENDS IN THE NEW EU MEMBER STATES MACROECONOMIC POLICIES TO ADOPT THE EURO. PERFORMANCE OF THE ROMANIAN MACROECONOMIC POLICIES TO ADOPT THE EURO

The global financial crisis created new challenges for the states that have joined the European Union in 2004 and 2007, but that are not yet members of the Euro zone; the maintenance of the convergence indicators below the reference values is a real challenge for the new EU member states. This study aims to evaluate the macroeconomic policies which these countries implemented in their endeavour to adopt the Euro. It starts from the analysis of the stage of meeting the nominal criteria of convergence and it subsequently identifies some characteristics of the macroeconomic policies, stressing on the importance of reformulating and recalibrating these macroeconomic policies so that they can cope with the current challenges.