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| THE WEEK IN REVIEW (18-24.06.07) |
| (2007-06-22) |
| Last updated: 2007-07-06 12:01 EET |
It has been a nightmare week for Romania, with the weather causing huge problems: violent storms, heavy rain, draught and scorching heat. Such extreme weather phenomena swept the country, leaving behind a number of dead, scores of localities without electricity, uprooted trees, drying up wells and damaging thousands of hectares of farm land - summer fruit in particular. The ambulance services have hardly been able to cope with the large number of incoming calls.
The authorities have taken measures to contain the effects of the heat and put up first-aid and free water distribution units in crowded areas in large cities. Peasants are on the verge of despair, fearing they will be left with no drinking water for them and their animals. The lasting draught has made the government declare a state of natural disaster in 34 counties. According to experts, this is the fiercest draught that Romania has faced in the last 60 years. The draught and scorching heat have also taken their toll on energy, and water and rail traffic.
The Romanian national currency, the leu has this week reached the highest rate as against the euro over the last 5 years, and the highest rate against the dollar of the last 7 years. Experts account for the appreciation of the leu by the increasing interest that foreign investors are showing in the Romanian currency. Speculators are taking advantage of the difference in credit and deposit interest rates, which emerged between the leu and the euro or the dollar. Importers stand to gain from the leu’s appreciation, as they pay less for goods purchased from abroad. So do people who have contracted credits in foreign currencies, and those who want to obtain larger credits in lei. Exporters stand at the opposite pole, and are unhappy about receiving less money for products and services they sell abroad. People who receive salaries in foreign currencies also stand to loose.
Starting July 1st, the energy and natural gas market in Romania will be fully liberalized, according to a decision approved by the government on Wednesday. The population will be able to opt for services from a certain provider, with whom prices will be negotiate. Economy and Finance minister Varujan Vosganian has given his assurances that following this decision, prices will not go up. He said the national energy strategy is almost finalized, adding that the separation of production from distribution and the price evolution are part of that strategy.
Romania is joining the EU countries that are trying to reduce their energy dependence. In Romania’s view, the oil reserves in the Caspian area may be an alternative to current supply problems. That is why president Traian Basescu attended, as an invited guest, the GUAM summit held in Baku on Tuesday. He called for the development of the transport infrastructure and for linking regional energy projects with EU ones. According to the Romanian president, the Black Sea and the Caspian Sea areas must become an important hub of energy networks towards European markets. Moreover, Basescu reaffirmed that GUAM states (that is Georgia, Ukraine, Azerbaijan and the Republic of Moldova) enjoy Bucharest’s solidarity, due to their desire to build a democratic society.
The week’s main foreign event was the European Council in Brussels, a decisive summit for the EU’s future. The main subject was the revival of the European Treaty, a document expected to replace the EU Constitution drafted 5 years ago and ratified by 18 states, but stalled 2 years ago, after France and the Netherlands rejected it in a referendum. One of the most sensitive issues bears on the future voting system, on the way in which decisions will be made and priorities will be defined. Germany’s proposal (as Germany sees its EU presidency coming to an end), is for the number of votes to be divided according to the respective state’s population. The proposal met Poland’s stout refusal, followed by the Czech Republic, which believe that this option favors large states.
Romania, through its president Traian Basescu, has said that Bucharest did not want to see the modification of the current system:
“The principle grounding the number of votes for member states is a principle which does not bring Romania benefits, nor disadvantages. But we believe that if the chapter is re-opened, there is a risk that we may have less votes than we have now, with the constitutional treaty we have already ratified. Taking into account demographic issues, we prefer this chapter not to be re-opened.”
Also present in Brussels, PM Calin Popescu Tariceanu said:
“A solution must by all means be reached at this summer European Council. From Romania’s point of view, the best current solution is the one presented by the German presidency, which we will support and which represents the most reasonable basis for mutual understanding.”
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