Traian Basescu Set To Quit Politics

Traian Basescu, president of the People’s Movement Party (PMP), said he will put an end to his political activity at the end of his term as senator.   Basescu, Romania’s former president, said he will not run for a seat in the European Parliament (EP) and will end his political activity after the completion of his term as senator.   Băsescu also said the EP elections in 2019 will be disaster for the right-wing parties unless a political solution is found, adding it is necessary a big alliance. (puterea.ro)   Finance Minister: Pensions To Be Raised By 10% As Of July 1   Pensions will be raised by 10% starting July 1 and there will be no problems with the payment of pensions and wages, Finance Minister Eugen Teodorovici gave assurance on Thursday.   Asked whether there is money for the 10% increase in pensions starting July 1, the minister said that everything envisaged for this year will be carried through and the budget impact related to all the measures announced had been stipulated in the 2018 state budget.   “For each and every measure envisaged for 2018, the budget impact was stipulated in the budget this year (…). Pensions will be raised by 10% as of July 1”, said Teodorovici, reiterating “there are no problems and there will be no problems with the payment of pensions and wages” (…). (jurnalul.ro)   Romania Not Ready For Euro Adoption   The seven EU Member States outside the euro zone which undertook to adopt the single European currency, namely, Romania, Bulgaria, the Czech Republic, Croatia, Hungary, Poland and Sweden, present, in general, a considerable nominal convergence.   All states meet the requirement regarding public finance, Bulgaria, the Czech Republic, Croatia, Hungary and Sweden meet the requirement regarding the long-term interest rates, while Bulgaria, Croatia, Poland and Sweden meet the requirement regarding the stability of prices. None of the above-mentioned Member States meet the requirement regarding the exchange rate, because none of these countries are member of the exchange rate mechanism. Before joining the eurozone, it is important that a member state participate in this mechanism, without facing severe tension for at least two years. (jurnalul.ro)   Romanians Rushed To Buy Homes In 2018 Under First Home Program   The national guarantee fund for small and medium-sized businesses (FNGCIMM) granted some 9,400 guarantees and guarantee pledges for the state-guaranteed First Home Program in the first five months of 2018, of the overall guarantee ceiling allocated for 2018.   Also, some 700 requests for guarantee are about to be granted.   The guarantee ceiling distributed at the beginning of 2018, in the amount of RON1.92 billion, was 49.61% used, representing RON954.39 million, FNGCIMM said in a statement. Compared with 2017, the average value of guarantees granted for loans under the First Home program rose 7%, from RON94,000 to RON101,200, and the share held by new housing units acquired under the program reached 60%.   The 2018 First Home program is carried out through 15 financing banks: Bancpost, BCR, BRD, CEC Bank, Credit Agricole Bank Romania, Garanti Bank, ING Bank, Leumi Bank Romania, Marfin Bank, OTP Bank, Piraeus Bank, Raifeissen Bank, Banca Romaneasca, Banca Transilvania and Unicredit Bank. (puterea.ro)
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