Press Review - July 6, 2018

07.06.2018 By Oana Gavrila

Deputy Central Bank Gov Says Inflation Seen Lower End-2018

Inflation in Romania is expected to stagnate and then decrease at the end of the year, central bank deputy governor Liviu Voinea said.

"Most recent assessments confirm a stagnation of the annual inflation rate. We are now at 5.4%, the six-month model shows stagnation, and the model for more than two quarters and more than six months up to eight quarters shows a decrease at the end of this year,” said Voinea.

Romania 3-Month Money Market Rat Grows to 3.39%

The 3-month money market interest rate used to calculate interests for consumer loans in lei jumped to 3.39% Thursday, the highest rate since February 2014, central bank data showed.

On Wednesday, the rate had grown to 3.34%.

The six-month money market rate, which is used to calculate interests on leu-denominated mortgage loans, grew to 3.46%, the highest level since March 2014.

The central bank kept the benchmark interest rate on hold a at 2.5% a year at its monetary policy meeting on July 4.

Barna, USR: This Is the Beginning of the End for Dragnea, He Crossed  a Line

The head of the opposition USR party Dan Barna said he believes this is the beginning of the end for Liviu Dragnea, who has crossed a red line and will not be forgiven by Romanians.

"I firmly believe this is the beginning of the end for Liviu Dragnea. Political orders on TV for the finance minister and tax agency chief to urgently recover taxes from President Klaus Iohannis and a new threat of impeachment show despair,” Barna wrote on Facebook.

“This is not the end for Romania, but for Dragnea's career built on theft and abuse,” he added.

Council Of Europe Urges Romania Not To Amend Criminal Codes Before Venice Commission Review

The General Secretary of the Council of Europe, Thorbjorn Jagland, asked Romanian institutions on Thursday to wait for the Venice Commission review before proceeding with overhauls to the country’s criminal codes.

Jagland said in a statement published on the Council of Europe’s website that the changes risk to conflict with Romania’s international commitments.

“I call upon all parties concerned to wait for the Venice Commission’s Opinion and take it into account before any further steps are taken to amend Romania’s Criminal Code and Criminal Procedure Code,” said the institution’s general secretary within the statement.

“This reform risks contradicting Romania’s international obligations, notably under the Council of Europe Criminal Law Convention on Corruption, as identified by the recent ad hoc report of the Group of States against Corruption (GRECO). As a member State of our Organization, Romania is duty-bound to uphold the rule of law,” added Jagland.

He added the Council will continue to monitor developments in Romania and the institution is ready to assist with expertise, if necessary.