Code Yellow And Orange Alert For Strong Wind In Several Counties
Twelve counties across Romania are under code yellow alert for strong wind which is expected to exceed 70 km/hour.
The mountainous area in the counties of Prahova and Arges is under code orange alert for strong wind which is expected to reach 110 km/hour.
Meteorologists issued the code yellow alert for strong wind in the counties of Bistrita-Nasaud, Alba, Sibiu, Brasov, Hunedoara, Gorj, Valcea, Caras-Severin, Buzau, Prahova, Arges and Dambovita. (puterea.ro)
BNR Official: Romania Risks Failing Euro-Adoption Criteria
Romania risks missing certain targets next year that count for the country’s euro-adoption ambitions, such as its budget deficit, inflation and interest rates, central bank chief economist Valentin Lazea said Monday.
“The biggest risk is overrunning the budget deficit which is already set at the EU-limit of 3% of gross domestic product and which, according to the European Commission’s autumn forecast, will reach 3.9% next year unless the government takes measures to offset it,” said Lazea at a conference on euro-adoption in Bucharest.
He added two other criteria relevant for euro-adoption risk not being met next year, namely inflation and long-term interest rates.
“The inflation criterion is a moving target which in September stood at 1.5 percentage points above 0.4%, so 1.9%,” the central bank official said, adding Romania did meet the inflation criterion back in September but the rate is expected to move beyond 2.5% mid-2018. (romanialibera.ro)
Senate Chairman Calin Tariceanu Speaks About Leu’s All-Time Low
Senate Chairman Calin Popescu Tariceanu on Monday recommended that everyone should read the statement made by central bank governor Mugur Isarescu last week about the way the ROBOR index was manipulated during the period in which it soared.
Tariceanu added the exchange rate was also affected by speculative actions fuelled either by the fear of some market players or by some people who are deliberately attempting to affect the country’s image and economic situation with this type of games, as part of a campaign.
The Romanian leu has continued its downward trend against the euro by midday Monday and the central bank set the leu’s reference rate versus the euro at an all-time low of 4.6495 units.
The central bank set the leu’s reference rate against the euro at 4.639 on Friday (Nov 10), after the national currently officially topped the 4.6-unit mark versus the euro on Wednesday (Nov 8) and then fell to 4.6267 against the euro on Thursday (Nov 9). The leu had previously hit a record low of 4.6397 against the euro during the week July 23- 27, 2012.
The leu has recently depreciated amid tensions over the government’s plans to overhaul the tax system and signals from the central bank that it would allow more flexibility in the exchange rate. (puterea.ro)
Dragnea:”Iohannis Is The Political Beneficiary Of My Execution!”
Social democrat leader and Lower Chamber speaker Liviu Dragnea said Monday evening at Romania TV that he has been subject to a political-media execution whose main beneficiary is President Klaus Iohannis.
Romanian anticorruption prosecutors on Monday Dragnea of abuse of office, embezzling EU funds and setting up an organized crime group.
An official release from the National Anticorruption Directorate reads that Dragnea allegedly set up an organized crime group in 2001, back when was chairman of Teleorman County Council. The group was allegedly led by Dragnea and comprised several public servants and businessmen.
The group’s activities revolved around Tel Drum, the Teleorman county public company that handles road infrastructure. Dragnea allegedly seized control of the company through privatization and the company was constantly favored in public procurement tenders seeking contractors for the county’s road infrastructure projects.
Prosecutors say that Dragnea managed in that way to illegally obtain both government and European Union funding. Members of the alleged organized crime group were also appointed within the central administration and had access to confidential information. As a result of the group’s activities, Dragnea allegedly obtained money, various assets and immovable properties and services, as well as donations from group members. (romanialibera.ro)