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Romania has three executives but not a functional government
It’s been seven days since Romania decommissioned the government, and the current situation could drag on until after the presidential elections. The business environment warns about the dangers of this strategy and emphasizes the need for a functional Executive. Most people in the business sector do not have preferences about who should run the government, since the new Cabinet will be replaced after the presidential elections. The Romanian political crisis has entered... citeste mai mult
The Romanian Parliament removed the government from power
The Romanian government was unseated by the Parliament yesterday, but the current prime-minister can still perform his duties for 45 days, as an acting prime-minister. During this time he will only sign the necessary documents to administer present public affairs. In other words, until the new government is installed, executive power in Romania is frozen. With the vote of 254 senators and representatives, the impeachment motion “11 Against Romania” was adopted yesterday by... citeste mai mult
The Romanian coalition reaches common ground on the “Andronescu” file
After a series of contradictory statements published at the end of last week, yesterday, the leaders of the coalition reached a new compromise. Even so, moments of tension could rise again in the next few days , due to the fact that on Thursday there will be debate regarding a impeachment motion filed by Romanian political parties PNL and UDMR. The minister of education, Ecaterina Andronescu, will modify the order regarding namings of executives in the education boards. She agreed that... citeste mai mult
Companies in debt towards the Romanian state will be monitored by the IMF
Through the new agreement made by the Romanian government with the International Monetary Fund (IMF), annual spending of 10 of the largest state companies, among which CFR, The National Coal Company, Termoelectrica and Metrorex, will be strictly monitored. In the second stage of this settlement, another twenty societies, with big spending, will have to conform to this procedures. The companies will need to submit their budget projects in a 15-day timeframe from the official... citeste mai mult
Companies in debt towards the Romanian state will be monitored by the IMF
Through the new agreement made by the Romanian government with the International Monetary Fund (IMF), annual spending of 10 of the largest state companies, among which CFR, The National Coal Company, Termoelectrica and Metrorex, will be strictly monitored. In the second stage of this settlement, another twenty societies, with big spending, will have to conform to this procedures. The companies will need to submit their budget projects in a 15-day timeframe from the official... citeste mai mult
The Romanian coalition reaches common ground on the “Andronescu” file
After a series of contradictory statements published at the end of last week, yesterday, the leaders of the coalition reached a new compromise. Even so, moments of tension could rise again in the next few days , due to the fact that on Thursday there will be debate regarding a impeachment motion filed by Romanian political parties PNL and UDMR. The minister of education, Ecaterina Andronescu, will modify the order regarding namings of executives in the education boards. She agreed that... citeste mai mult
The IMF council is evaluating the agreement made with the Romanian government, in full political scandal
Romanian prime-minister Emil Boc is threatening with the reshuffle of PSD members, while PSD party president, Mircea Geoana, is recommending that the prime-minister monitors the PD-L ministers responsible with the economics politics. While this, and a controversial censorship motion that is being settled for voting, the IMF council will subject to approval the first evaluation report of the agreement made with Romania. The IMF also launched a proposal for the payment of the next 2... citeste mai mult
In four months, the Romanian government has to cut its spending by 1 billion Euros
The Romanian Prime-minister Emil Boc announced a 2% increment of the pension point and free of tax reinvested profit, starting October 1 st . It has also announced it will drop the minimum tax, at least partially, starting January 1 st . By the end of the year, the Government has to reduce budget spending by 0.8% of the Gross Domestic Product (GDP), so that the national deficit does not exceed 7.3% of the GDP. “If we think there are only four months left by the end of the year,... citeste mai mult
