Press Review - January 18, 2019

01.18.2019 By Oana Gavrila

Leu Touches New Low Vs Euro

The Romanian leu hit a new low against the euro on Thursday, standing at 4.6890 units to euro at midday, down 0.13% on the day from 4.6830 units per euro on Wednesday.

On Tuesday, the leu stood at 4.6822 units per euro, from 4.6771 units per euro on Monday.

The leu also depreciated against the US dollar on Thursday, standing at 4.1126 units.

President Rejects Proposed Cabinet Ministers Again

President Klaus Iohannis sent on Thursday a letter to Prime Minister Viorica Dancila motivating his renewed rejection of her proposed Cabinet ministers saying the proposals lacked complete documentation.

Iohannis cited the lack of both candidates' criminal records, copies of their IDs and updated resumes.

This is the third time in the past two months that President Iohannis has rejected the proposals of Lia Olguta Vasilescu for development minister and Mircea Draghici for transport minister. The dispute is likely to be taken up with the Constitutional Court.

The government plans to make the same proposals again, adding the cited missing documentation, said government secretary general Toni Grebla.

Romanian Coal Miners End Strike After Government Raises Wages

Romanian coal miners at energy holding CE Oltenia have agreed to return to work after the government promised to hike their wages after a week-long strike that sparked fears of power shortages across the country.

Prime Minister Viorica Dancila said Thursday she was informed of the gravity of the situation at the energy holding “suspiciously and unacceptably late”.

Following negotiations, CE Oltenia’s active personnel will receive net wage raises between RON292 and RON585, vacation vouchers of RON1,450 and Easter bonuses of RON330. The company’s management also committed not to punish the employees for the walkout on condition of recovering lost work time, according to manager Sorin Boza.

CE Oltenia provides brown coal for about 30% of Romania’s electricity needs. The miners' strike left coal stocks dangerously close to depletion, forcing the country to temporarily import about 20% of its electricity needs and driving electricity prices to record highs.