Press Review - March 1, 2019

03.01.2019 By Oana Gavrila

Leu Falls Slightly vs Euro

The Romanian leu lost 0.02% to the euro on Thursday, standing at 4.7416 units to the European currency at midday.

On Wednesday, the leu had firmed to 4.7408 units to the euro.

Against the US dollar, quoted indirectly on the Romanian market, the leu firmed to  4.1584 units Thursday from 4.1591 units Wednesday.

Romania Seeks to Reorganize Tax Agency

Romania's lower chamber of Parliament has adopted a bill reorganizing the country's tax agency ANAF.

The bill disbands regional tax offices and places its customs divisions under the direct authority of the finance ministry.

Ruling Party Files Bill To Make Central Bank to Repatriate Over 90% of Gold Reserve

The chairman of Romania’s ruling Social Democrat Party (PSD), Liviu Dragnea, and PSD senator Serban Nicolae filed on Thursday a bill which would have Romania’s central bank repatriate 91.5% of its gold reserves deposited outside the country, amounting to more than 56 tons of gold.

The bill would limit the central bank’s foreign gold holdings to a maximum of 5% of its total gold reserves. Recently, central bank deputy governor Liviu Voinea said approximately 59% of the institution’s gold reserves are deposited at the Bank of England.

The bill’s initiators argued that Romania has reached a level of economic stability which would warrant repatriating its foreign gold holdings and that the measure would also eliminate deposit costs. Nicolae quoted data stating the annual costs for maintaining the foreign deposit are of EUR300,000 but did not offer a source for the figure.

Basescu Says PSD Seeks To Repatriate Gold Reserve in View of Dictatorship

Former president Traian Basescu wrote on his Facebook page the ruling party is pushing to have the country's gold reserve repatriated to avoid international sanctions when it instates a dictatorial regime.

Basescu said Dragnea knows dictatorships are often sanctioned by blocking their financial resources held abroad and seeks to repatriate the country's gold reserve to pave the way for his dictatorial regime.

The ruling Social Democrat Party filed a bill in Senate to get the central bank to repatriate 91.5% of its gold reserves deposited outside the country, amounting to over 56 tons of gold.

Romania Will Not Take Part in Negotiations for EPPO Chief Prosecutor

Romania will not have a representative in the team of three ambassadors delegated to represent the EU Council in negotiations with the European Parliament for appointing a chief for the upcoming European Public Prosecutor’s Office (EPPO), a council representative said Thursday.

According to the representative, the EU Council delegation is formed from ambassadors of three states which will succeed Romania’s council presidency: Finland, Portugal and Croatia.

Romania’s representative was excluded from the delegation due to the candidacy of prosecutor Laura Codruta Kovesi, while the German representative also ceded his place to Portugal due to the candidacy of Andres Ritter.

The EU Council and representatives of the European Parliament will have to negotiate the future EPPO chief prosecutor after the Parliament's LIBE and CONT committees voted in favor of appointing Kovesi to the office, while EU Council ambassadors preferred French prosecutor Jean Francois Bohnert.