Basescu Says Ciolos Cabinet Is A Failure
Traian Basescu, Romania’s former president and current head of the People’s Movement Party (PMP), said the Ciolos Cabinet compromised the idea of a technocrat government.
”The Ciolos Cabinet is a big failure of technocracy. The idea is definitively compromised,” said Basescu, who criticized the activity of several ministers.
The former head of state pointed out that Energy Minister Victor Vlad Grigorescu and Transport Minister Dan Costescu are ”catastrophes.” (Adevarul)
PSD Head Liviu Dragnea And Former PM Victor Ponta Team Up Again
The head of the Social Democratic Party (PSD), Liviu Dragnea, and former prime minister Victor Ponta, have teamed up again and announced various joint plans.
One of their plans is to oust Chamber of Deputies Speaker Valeriu Zgonea and replace him with Ponta.
Dragnea recently said the procedure to revoke Zgonea from the position of Chamber of Deputies Speaker will be resumed next week. (Puterea)
Romania’s Roads Authority Starts Restructuring Procedure
Romania’s roads authority CNADNR started the downsizing procedure and plans to reduce the number of management positions from the current 110 down to 68.
Transport Minister Dan Costescu asked the heads of the company to turn CNADNR into an open structure.
The minister added there will be no layoffs and the current heads will continue to work within the company as „mere engineers, mere economists.“ (Adevarul)
Weather Stays Cold In Coming Days
The weather remains cold and unstable across Romania in the upcoming days when wind, rain, thunder and lightning are expected.
In capital Bucharest, minimum temperatures will reach 8 degrees and maximum temperatures will reach 20 degrees in the afternoon. (Adevarul)
Leu Drops To 2-Month Low Of 4.5 Vs Euro
The Romanian leu lost ground versus the euro in early trade Thursday, trading at 4.5 units, the lowest rate since February, while analysts expect a further depreciation of the local currency.
On Thursday, the central bank set the leu’s reference rate versus the euro at 4.5021 units, down 0.23% from 4.49 units a day before.
“With the global risk-off continuing on top of domestic headaches, the RON should continue to soften, possibly eying at first 4.53/EUR over the following weeks. For today, we expect the pair to consolidate above 4.50, possibly inching up towards 4.51,” ING analysts said in a report.