THE BALANCE OF PAYMENTS' SUSTAINABILITY AND THE EUROZONE ACCESSION CONVERGENCE CRITERIA

The main purpose of the balance of payments (BoP) is identified as representing the long term need of equilibrium and stability of the international payments and revenues. The purpose of this paper is to determine the factors that influence the balance of payments of a certain country, by using a rigorous classification that reveals the complexity of these factors. Our conclusions are very relevant, especially for countries like Romania, because, in order to achieve the external equilibrium, it seems that every county must adopt a mix of internal economic policies, and although theoretically this can be realised, sometimes in practice it can prove to be impossible on account of inability or refusing to combine the appropriate economic policies.