Euro adoption objective of Romanian bank's new board: Governor

The adoption of the euro in 2014-2015 will be the strategic objective of the new board of directors of Romania's central bank, Governor Mugur Isarescu said Thursday.

The bank governor made his comments to lawmakers ahead of a parliament vote on the bank's new board. The Romanian parliament later reappointed him for a new five-year term with the central bank.

"It happens that the objective tallies with a fresh term in office. I think this mandate is feasible and can act as the catalyst that may give coherence to the macroeconomic policies," Isarescu said.

He said the new board "will have to ensure the financial stability, the price stability, the stability of the national currency, of the credits, and the money circulation."

The current term of the central bank's board expires Oct. 10.

Isarescu, 60, has served as governor for 19 years since he was named to the post in September 1990. He briefly left to serve as prime minister from December 1999 to November 2000.

Source: Xinhua