The Labour Productivity-An Important Criterion Of Real Convergence In The Process Of Adopting The Euro Currency. A Case Study On Romania'S Labour Market

In the context of a new deadline for the euro adoption, 2024, the purpose of this paper is to highlight how important is the labour productivity as a criterion of real convergence. Unlike the well-defined nominal convergence criteria, there are some indicators such as GDP/capita, the productivity and the cost of labour, the openness of the economy that best define how close to the rest of the states of the European Union and the Euro-zone is the economy of a country in terms of the standard of living, the competitiveness and the efficiency of the economy as a whole.