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| Romania, Observed by Brussels and Fitch |
| (2012-07-12) |
| Last updated: 2012-07-13 13:28 EET |
The Romanian authorities hope the European Commission’s forthcoming report on justice in Romania will not make the country’s Schegen bid dependant on the recent political developments at home, saying this would not be fair. This statement was made by Romania’s Prime Minister Victor Ponta who was in Brussels to explain the country’s current political situation to European Union officials. These explanations were considered necessary following the swift and radical political changes that culminated with the suspension of President Traian Basescu in a move to impeach him.
The Romanian Prime Minister expressed his belief that the European Commission’s report will reflect the progress recorded by Romania’s justice system over the past 5 years, and said that the judiciary was independent, but needed to become more efficient.
The European Commissioner for Justice, Viviane Reding, warned that the Mechanism for Cooperation and Verification on Justice might be extended by several years, which would affect Romania’s accession to the Schegen area.
Prime Minister Ponta assured the Brussels officials that Romania was a democratic European country that respected its Constitution and the rule of law. He said the Romanian government would hold the referendum to impeach president Traian Basescu on July 29th taking into consideration the rulings of the Constitutional Court.
The Court decreed that the referendum was only valid if a majority of the entire electorate shows up at the polls. Before this decision, the president could be unseated if the majority of those who turned up at the polls agreed to the impeachment. Ponta asked Parliament to call an extraordinary meeting to harmonise the referendum law with the Court’s decision.
This would imply that Parliament would once again have to debate on the law and give its approval prior to the July 29th referendum. The minimum voter threshold imposed by the Constitutional Court also implies updating voter information taking into account the official results of a 2011 census which are yet to be published.
The political crisis in Bucharest has raised concern about possible disruptions on the economic front. The Fitch rating agency, however, assured that the situation in Romania, despite becoming more and more unstable, did not affect the country’s investment rating in the short run. Romania is currently rated BBB-. The budget consolidation process and the country’s substantial foreign currency reserve favourably influence Romania’s rating.
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