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| The Week in Review |
| (2013-05-04) |
| Last updated: 2013-05-08 13:48 EET |
The Leu strengthens against the Euro
Romania’s national currency, the Leu, this week has continued to gain ground against the Euro and the US dollar, with the best exchange rate in the last year and a half. Moreover, in the first four months of the year, the Leu reported the biggest appreciation of all EU currencies, as shown by an analysis conducted by the brokerage firm Noble Securities. The analysis shows that last month the Leu reported an approximately 2% hike against the Euro and 4.8% against the US dollar. Between January and April, the Leu went up by 2.7% against the single European currency and by 2.3% against the US dollar. Noble Securities analysts say the upward trend of the Romanian currency is owing to Fitch’s confirmation of Romania’s rating for long-term home currency loans at BBB-s, with a stable outlook and to the market success of Romanian state bonds.
The regulations governing the activity of the National Integrity Agency are constitutional
Romania’s Constitutional Court has ruled against all constitutional challenges of the regulations currently governing the activity of the National Integrity Agency. The main articles that were challenged were those referring to the deadline for filing the declarations of assets and liabilities and those concerning sanctions to be applied to officials where an incompatibility or conflict of interest arises under the law. The Court also ruled against constitutional challenges targeting the activity of the National Integrity Agency after receiving several notifications in multiple court cases. The National Integrity Agency and the National Anticorruption Directorate have been commended in the latest European Commission report on progress in the Romanian judiciary.
The administrative regionalization of Romania – in the spotlight
The administrative regionalization of Romania, which is publicly considered as the largest such project since the demise of communism, continues to rank as the top priority of the Government in Bucharest. Prime Minister Victor Ponta has said that the project is of paramount importance, as it would result in a significant increase in the absorption of EU funds, one area where Romania ranks among Europe’s least efficient countries. While no parliamentary project seems to challenge the need to carry out this administrative reform, the way in which it should be implemented has nevertheless sparked controversy. The centre-left ruling Social Liberal Union has announced that in the event that all parliamentary groups reach a consensus on this matter, the Government will opt for taking responsibility for this law, which involves seeking a vote of confidence in Parliament. Otherwise, the project is expected to go through all stages of legislative debate, with Parliament ultimately having the final word. The opposition has firmly opposed this solution.
Funds for Deveselu
The US Congress has already ensured funding for the military base in Deveselu, in southern Romania, which will host elements of the US missile defence shield in Europe. The announcement was made in Bucharest by the US Deputy Assistant Secretary for Defence Policy Frank Rose. During talks with the State Secretary of the Romanian Foreign Ministry, Bogdan Aurescu, the US official thanked the Romanian side for the implementation, without delay, of the timetable established as part of a bilateral agreement on the missile defence system. Launched in 2010, the system provides for the gradual deployment by 2015 of strong missile and radar interceptors in Eastern Europe and Turkey.
The minister delegate for Romanians abroad Cristian David travels to Italy
The minister delegate for Romanians abroad Cristian David was received in audience by Pope Francis at the Vatican. On this occasion, David presented the situation of Romanian nationals living in Italy and conveyed the Pope the best wishes on behalf of all Romanians. The meeting was the result of a request to the Pope by the Association of Romanians in Italy in the run up to Easter. A majority Orthodox country, Romania celebrates Easter on the 5th of May. David’s agenda also included talks with the mayor of Rome, Gianni Alemanno, and representatives of the Romanian community in Italy, which numbers around 1 million people.
Romanians celebrate International Labour Day
As every year on May 1st, many fun-seeking Romanians spent the day on the Black Sea coast. According to the Employers’ Federation for Tourism and Services, around 100,000 Romanians chose, however, to go to the Bulgarian coast, which has been largely preferred in recent years over the Romanian resorts. Around 30,000 people travelled to the Romanian coast, mostly to the resorts of Mamaia, Costinesti and Vama Veche.
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