Romanian Prime Minister “Disappointed” With CVM Report Conclusions
Romanian Prime Minister Viorica Dancila stated at the beginning of Thursday’s cabinet meeting that she is “disappointed” with the conclusions laid out by the European Commission’s critical 2018 Cooperation and Verification Mechanism (CVM) report on Romania.
“I am disappointed with the CVM report’s conclusions, as Romania proved that it is a loyal and correct partner of the European Union. The Government was permanently in contact with Commission experts and offered arguments. Unfortunately, I have seen that they have just been ignored. We cannot agree with instating some rules and accepting what no other member state would. I see recommendations which want us to ignore provisions which were legally instated through the vote of the Parliament and Constitutional Court decisions, which is a violation of the European treaty. As prime minister, I request equal treatment for my country,” said the Romanian chief of cabinet.
The European Commission urged Romania to immediately suspend its current judicial reform and all ongoing procedures for appointing or dismissing top prosecutors, in an extremely critical 2018 version of its Cooperation and Verification Mechanism (CVM) report for the country.
According to the report, the recently enacted judicial bills and pressures made against the independence of the judiciary have generated doubts on the irreversibility of judicial progresses made by Romania.
It adds that the measures have contributed to regresses in the rule of law and especially criticized pressures exerted on the country’s National Anticorruption Directorate (DNA).
Besides suspending the judicial overhaul process, the Commission also advises Romanian authorities to fully take into account recommendations issued in CVM reports, as well as those of the Venice Commission and GRECO.
The recommendations including halting all ongoing procedures regarding top prosecutors and immediately restarting the procedure for appointing a DNA chief-prosecutor, who should have “proven experience in the field of criminal prosecution of corruption offenses”. (puterea.ro)
Cold Weather And Snowfall Expected Across Romania This Weekend
Romania’s National Meteorological Administration (ANM) issued on Thursday a warning for especially cold weather, snowfalls and strong winds, in effect for the entire country this weekend.
According to ANM, temperatures throughout the country will drop starting with Friday, 5.00 local time, with snowfall and heavy winds expected in mountainous areas, and weaker snowfall and sleet in lower altitude areas, especially in the southern, eastern and central regions.
The warning will be in force until Sunday, 12.00 local time. Throughout the period, temperatures will record negative values during the night and in early mornings in most regions of the country. (evz.ro)
Government Adopts Decree Setting Legal Framework For Establishing Sovereign Funds
Romanian Finance Minister Eugen Teodorovici announced, at the end of Thursday’s cabinet meeting, that the country’s Government passed an emergency decree which sets the general legal framework needed to establish multiple sovereign investment funds.
The minister announced that the future funds will be organized as Romanian public companies and will be managed by a “dualist council”.
“Members (of the council, ed.) are elected for five years, must hae expertise in the banking sector, professional integrity and knowledge and attitude adequate and specific to sovereign funds. They will be appointed by decree,” said Teodorovici.
“The goal of these funds will not be privatization, but financing. These sovereign funds might be used in financing Romanian companies with strategic importance, investment in industry, investment in infrastructure projects, raising the competitiveness of Romanian economy, following our energy and equity strategy,” the Romanian minister added.
Eugen Teodorovici also confirmed that the bill contains the obligation of respecting a previous decree on corporate management, but that the exact companies which will be part of the sovereign funds will be decided at a later time.
Earlier in the day, Prime Minister Viorica Dancila announced that the government will pass, through emergency decree, a bill establishing the Sovereign Fund for Development and Investments (FSDI), a Government-run fund which will handle state shares in major companies, and one of them main stated objectives of the ruling coalition’s government program. (puterea.ro)
Leu Weakens Versus Euro
The Romanian leu lost a slight 0.10% on the day to the euro Thursday, standing at 4.6635 units from Wednesday’s reference rate of 4.6590 units.
Against the US dollar, the leu appreciated to 4.1283 units Thursday from 4.1340 units Wednesday.
The leu depreciated against the Swiss franc, standing at 4.1007 units, from 4.0924 units. (romanialibera.ro)