Basescu said the European Union sees nothing good in Romania’s failing to absorb its funds.
He added that asking for the extension of the absorption period prevents a potential suspension of large amounts of EU funds in 2013.
By mid-2012, Romania had paid EUR824.8 million to the EU budget, from an annual quota of EUR1.42 billion. In the first six months of the year, Romania absorbed EUR713 million in structural and cohesion funds, slightly over 18% of its total allotment of EUR3.78 billion.