Tuesday, February 12th

BNR governor at a hearing before a Senate committee

Romania’s National Bank (BNR) Guvernor Mugur Isărescu is expected to appear at a hearing before a Senate joint Committee of Economy and Finance on Tuesday. Mr Isărescu will explain how interbank rate operates while also providing information related to banks’ profit. „Figures and data on the matter are far from those much talked about recently”, Mr. Isărescu told Radio Romania on Tuesday. „BNR board would recommend the government to break ties between its new tax on banking assets and the ROBOR interbank money market rates index”, BNR governor said on Monday. Two major international banks, the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) have formally complained to the Romanian government about proposed new banking sector taxes. For similar reasons, Mugur Isărescu recently criticised Romanian Finance Minister Eugen Teodorovici and Darius Vâlcov, a former finance minister, currently an adviser to PM Viorica Dăncilă’s cabinet.

Romania expects a hard Brexit

Romania is preparing for a no-deal Brexit. The country’s Foreign Ministry hosted a briefing on the matter on Monday. „A no-deal Brexit is not an abstract mattter, and it may harm”, Romanian Minister Delegate for European Affairs George Ciamba warned. „Romania is prepared, I have no doubts about it. However, my concerns are related to information”, Mr. Ciamba said as he also admitted the event was an unusual process for the EU, a „black swan”. „Romania’s government calls on businesses to start and make further preparations for any end”, the minister pointed out. A no-deal Brexit remains a threat and a major crisis can occur, EU Commission representative to Romania believes. Ms. Angela Cristea told reporters that „14 contingecy measures” were already established in order to avoid a major crisis.

Flu epidemic still hitting Romania

A flu epidemic is still an alert in Romania where death toll hit 109 since early January. Romanian Health Minister Sorina Pintea declared a nationwide flu epidemic on January 31. The announcement came after medical experts pointed out that best ways to prevent flu were the vaccins, and it was never too late to do so. Flu last victims include a woman aged 81 in the capital Bucharest, and a man aged 79 in the southern Romanian county of Olt. „Those people who died from the flu in the current season had one thing in common: they were not vaccinated”, the Romanian minister said. There are many factors that contribute to this flu crisis, including the number of people infected by the flu, the availability of vaccines, and the strain of the flu virus itself.
Alexandru Danga, RADOR