Interbank Fees On Card Payments To Be Cut Fivefold
The capping of interbank fees to 0.2% for debit card payments and 0.3% for credit card payments will trigger a higher volume of card transactions but will significantly impact small banks, which will have to provide more expensive products.
“The impact for banks is a universal one, each issuer bank was getting revenues from this fee, which will be cut fivefold. On the backdrop of this sharp revenue fall, for large lenders (…), revenues will be offset, while small banks (…) will find themselves in a delicate position and many of them will no longer find the motivation to support this segment, affecting the size and volume of the market,” Catalin Cretu, regional manager of Visa Europe for Romania, Croatia and Slovenia, said in a press conference.
The European Parliament approved in March the regulation on capping interbank fees to 0.2% for debit card payments and 0.3% for credit card payments, which will come into effect at the end of the year. (Romania Libera)
Finance Ministry Mulls New Agreement With International Monetary Fund
The Romanian Finance Ministry wants a new agreement with the International Monetary Fund, as it would be beneficial for the country’s image and country rating, as well as for getting cheaper loans, Finance Minister Eugen Teodorovici stated.
The official added that the international organizations should be aware that, despite several delays, Romania has will and determination to implement the agreed measures.
A technical mission of the International Monetary Fund (IMF) and the European Commission (EC) will come to Bucharest between May 19 and 26, for talks over the Tax Code and the implementation of the measures previously agreed in the program.
”The Finance Ministry definitely wants a new agreement, as it would be an extra reason for Romania to get cheaper loans, to continue this approach, as image, as country rating. These are elements which count in the economic context,” Teodorovici stated. (Puterea)
Former President Traian Basescu Deems He Is Subject To Media Denigration
Former President of Romania, Traian Basescu, posted on his Facebook page that the media is leading a fierce denigration campaign against him.
“I will politically struggle to defend my mandates! RoTV, Rtv, A3 are leading a fierce campaign against me. Sometimes, they are even fueled by state institutions which became obedient to their masters (…). I wanted a smooth withdrawal from the public life. But Nastase and Voiculescu’s system wants revenge for all the political defeats (…),“Basescu said on Facebook. (Adevarul)
Ecological Farm Owners Can Get Non-Reimbursable EU Funds
Ecological farm owners can get non-reimbursable European funds to support their business or to start a new business, as the National Rural Development Program 2014 – 2020, developed by the Agriculture Ministry, includes a measure for the support of ecological farming.
Thus, ecological farming will become an instrument to reduce water pollution and the surfaces of land which are subject to chemical fertilizers. The program includes two sub-measures: support for the conversion to practices and methods of ecological farming; support for maintaining practices and methods of ecological farming. (Adevarul)
PNL Deputy Cristina Pocora Mulls VAT Cut To 5% For Baby Care Products
PNL deputy Cristina Pocora posted a video message on her Facebook page Sunday, asking PM Victor Ponta to encourage birth rate and support the family by cutting the VAT to 5% for baby care products.
According to Pocora, more and more Romanian couples are postponing the idea of having a baby due to the lack of money and the result is a drastic population decline, deeper every year.
Last year, 200,000 children were born in Romania, compared with over 315,000 in 1990. (Romania Libera)