AN ALGORITHM BASED APPROACH FOR ROMANIA’S ROAD TOWARDS THE EURO-AREA MEMBERSHIP STATUS. IN SEARCH OF A SUITABLE EXAMPLE
AN ALGORITHM BASED APPROACH FOR ROMANIA’S ROAD TOWARDS THE EURO-AREA MEMBERSHIP STATUS. IN SEARCH OF A SUITABLE EXAMPLE

Summary/Abstract: Recent developments of the economic and financial crises allover Europe have created a new, rather frightful perspective of the economic integration process and further-more of monetary integration and the Euro-area. There is an exit case-scenario, but is it considered a disastrous option. Neither Greece, nor Ireland considered this option and it is even less of a case for the founding members of the Euro-zone. As a consequence, actual candidates have been urged to consider even more seriously their convergence process as long as they are under the no-optout clause. These are the essential hypothesis of this paper. From this new perspective, the paper envisages pointing out the role of preparation and of the convergence process has had for some of the most recent members of the Euro-Area. Analysis also involves a fuzzy clustering algorithm previously applied by the authors. We try to find similarities, useful examples or lessons to be learnt by Romania in this single currency accession process.

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