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12. 03. 10. - 10:00

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12. 03. 10. - 10:00

Romania receives another €one billion from the EC

Romanian Times

Romania received another one billion Euros from the European Commission (EC) yesterday (Thurs) as part of a five-billion-Euro loan agreed upon in spring 2009.

Disbursement of the tranche comes after a harsh evaluation of the country' s budgetary reforms.

EU Economic and Monetary Affairs Commissioner Olli Rehn said: "I am happy to report that Romania has complied with the policy conditions for the second EU disbursement.

"Progress made towards fiscal consolidation needs to be accompanied by structural policy reforms, including the adoption and implementation of the fiscal responsibility law and revised pension legislation.

"Financial assistance from the European Union (EU), the International Monetary Fund (IMF) and other international financial institutions has helped Romania overcome the worst of the economic and financial crisis," Rehn added.

Future installments from the EC will depend on Romania's ability to fulfill a series of terms set under the loan agreement, according to Rehn.

A joint IMF/EU team is scheduled to visit Romania in late April or early May to make a new assessment of the country's performance.

Health minister considers taxing fast food and beer
The new Health Minister Vasile Cepoi said today (Thurs) that the next Health Care Law might include a new tax on fast food and beer, local press informs.

Romania wont ratify ACTA
Romania will not ratify the highly controversial (Anti-Counterfeiting Trade Agreement)ACTA until the agreement won't be altered as to comply with demands recently formulated by the European Court of Justice, the minister of Communication Dan Nica told a press conference today (Thurs).

Romania wont ratify ACTA
Romania will not ratify the highly controversial (Anti-Counterfeiting Trade Agreement)ACTA until the agreement won't be altered as to comply with demands recently formulated by the European Court of Justice, the minister of Communication Dan Nica told a press conference today (Thurs).

Government to introduce ‘Robin Hood’ tax on oil companies
Minister of Economy Daniel Chitoiu announced today (Weds) that the government is working on a piece of legislation on introducing a supplementary tax on the exceptional incomes of the oil companies that should be passed by the year end and implemented as of 2013.

Education Minister stepps down amid plagiarism accusations
Ioan Mang, the education minister appointed only two weeks ago together with the new cabinet of Social Liberal Union (USL) leader Victor Ponta, resigned Tuesday (yesterday) night.

Brancusi’s son doesn’t want his father remains to be moved to Romania
John Moore, the only child of sculpture Constantin Brancusi, reacted to Romania’s intention to repatriate the remains of his father, saying his last will was to be buried in Paris at Montparnasse, Libertatea newspaper informs today (Weds).

Romania back in recession, growth to resume in H2
Romania officially entered recession today, following the figures published by the National Statistics Institute (NSI) that show a decrease of the GDP for two consecutive quarters (Q).

Police head sacked over underground boss runaway row
The head of the Romanian Police Liviu Popa (picture) was sacked today (Tues) by Home Affairs Minister Ioan Rus, the ministry informs.

UK Ambassador Harris says new Cabinet took right decisions so far
The UK Ambassaodr in Romania, Martin Harris says Victor Ponta’s new government got off on the right foot by making clear that its economic policy will continue to be framed within the programme agreed between Romania and the EU, World Bank, and IMF.

Carmen Sylvas x-rayed hand to be auctioned
A x-ray of the left hand of Romanian Queen Elisabeta will be auctioned in Bucharest by Artmark auction house, Libertatea newspaper informs today (Tue).