PSRo And PND To Support Liberals’ No-Confidence Motion
The Romanian Social Party (PSRo) and the National Democratic Party (PND) have confirmed they will support the no-confidence motion to be submitted by the Liberal Party.
PSRo leader Mircea Geoana said Thursday his party will back the motion, as Ponta’s continued play at power is the worst option for the country. (Puterea)
Romania Prepares New Eurobond For Fall
Romania’s Finance Ministry has prepared the documentation for the country’s first Eurobond of the year, but it waits for the right market conditions, and will most likely launch the sale in the fall, a treasury official said Thursday.
“We want to see the new market standard… we want to see the new levels, how Greece’s problems will be solved,” Diana Popescu, deputy general manager of the Treasury, told the Euromoney conference in Bucharest.
The ministry aims to raise between 1 and 1.5 billion euros in its first bond sale on foreign markets this year. (Adevarul)
Isarescu: Romania Still Has Steps To Take Before Euro Adoption
Romania still has some steps to take before adopting the euro, which needs to be done at the right time, and not before some structural reforms were made, central bank governor Mugur Isarescu said Thursday.
“We still have a lot to do to join the euro-zone at the right time… Romania fulfills all four Maastricht criteria, but the big challenge is to maintain them on the long term,” Isarescu said at the Euromoney conference in Bucharest.
“The next duty of economic policies is to keep the macroeconomic balance attained after so many efforts, with a focus on structural reforms,” the governor added.
Any mistake in the government’s economic policies will require painful and lengthy corrections, Isarescu warned. (Puterea)
Employers May Grant Vouchers For Domestic Vacations
Employers may grant holiday vouchers for domestic vacations, as the Chamber of Deputies approved the law regulating vacation vouchers.
The value of the vouchers may not exceed six average salaries.
Public sector employees will receive vacation vouchers but private employers may choose whether or not to grant them.
Vacation bonuses are taxed 83%, while vacation vouchers are taxed 16%, the same as meal vouchers.
The use of vacation vouchers is expected to inject at least EUR400 million in the local tourist industry. (Romania Libera)