NBR governor Mugur Isărescu apparently ignores the fact that banks are refusing to negotiate with their customers and insists, after the passing of the law of giving in payment, that the parties of the loan agreement should negotiate: "Negotiation is the basis of the functioning of the market economy, in the European Union, because that is where we are living. Romania was and has been a loyal partner to the European project and we should not forget that". read more...

The European Central Bank (ECB) pursues its mandate and defends its independence, according to statements of the president of the institution, Mario Draghi, who responded yesterday, to some criticisms coming from several German officials concerning the lax monetary policy of the ECB. read more...

The British pound yesterday saw the biggest decline against the dollar since March 2009, after London mayor Boris Johnson, one of the most popular politicians in the country, said he would start a campaign in favor of the United Kingdom leaving the European Union (Brexit) in the referendum scheduled in June. read more...

China's currency reserves have reached their lowest level in the last four years, as the central bank in Beijing (PBOC) sold dollars to support the exchange rate of the yuan. read more...

The Court of Accounts has identified several violations of the legal regulations in effect, at the National Tax Administration Agency (ANAF). Those irregularities have resulted in the alteration of the financial statements for the year 2014. read more...

Greece will loosen restrictions on capital movements in order to allow domestic investors that want to buy stock through the Athens Stock Exchange to use the locked money they have deposited in Greek banks, Charalampos Gotsis, the president of the Commission for the oversight of the Greek securities market announced. read more...

Klaus Iohannis has signed the law which allows the confiscation of unguaranteed deposits (bail-in) to save distressed banks, by promulgating yesterday the law on the resolution and recover of banks and investment firms. Romania's president has no reason to worry about his money potentially vanishing from his bank accounts, because, according to his wealth statement, he keeps his money in properties, while his savings are less than 50,000 Euros, meaning half of the amount guaranteed by the state for a bank deposit, in the event of a default of the financial institution. read more...

The crisis in Greece has not left depositors that are keeping their money in Romanian banks with Greek capital indifferent, as a significant number of individuals and companies have withdrawn the money from their bank deposits. read more...

The evolution of the Euro has messed up the plans of the Mayoralty of Bucharest, which has refinanced in lei a loan made in Euros, precisely to escape the currency risk. read more...

omania has repaid, since the start of this year, over 1.567 billion euros to the International Monetary Fund, European Union and World Bank, in the account of the stand-by loan taken out in 2009, according to data released by the Ministry of Public Finance. read more...

The Board of Romania’s Central Bank (BNR) decided on Wednesday to slash the key interest rate from 2.75% to 2.5% as of January 8, according to a release issued. read more...

Fiscal prejudices of hundreds of millions of Euros have been identified by prosecutors, many of them confirmed by judges. But the recovery of these sums is an issue for the ministry of finance: in five years, ANAF has brought only 4 millions to the budget. What is the explanation? read more...

Prime Minister Victor Ponta says the 2015-2016 state budget aims at keeping the 16 percent flat tax and cutting the special constructions tax on energy infrastructure from 1.5 percent to 1 percent. read more...

Pensions will rise by 5 percent as of January 2015 and disability benefits will also grow by 16 percent, Labor Minister Rovana Plumb told a conference on private pensions this Monday. read more...

Prime Minister Victor Ponta, during a visit to this eastern Romanian Danube River port city on Friday urged the local mayors to legally and quickly spend the funds they have available. read more...

Prime Minister Victor Ponta asserted that the VAT cut (from 24 percent to 9 percent) for bread was a successful initiative, and it would be continued. read more...

Ministry of Public Finances, Ioana Petrescu, on Saturday stated that she didn’t intend to introduce fiscal amnesty, since the collection will only record a temporary growth that way, on a short term, but what she wanted was to eliminate tax evasion in a sustainable way, primarily through voluntary compliance. read more...

Businessman George Copos describes the "bail-in" mechanism (to save banks using the depositors' money) as an experiment that the European Union is conducting on small patients, whose potential (economic) death would not seriously affect the rest of the Union. read more...

The EUR/RON exchange rate seems to have been used again as a political weapon in a confrontation between president Traian Băsescu and the government led by Victor Ponta, according to some opinions expressed under the protection of anonymousness and reported in the media. This time, the leu (Romanian for lion) seems to have switched sides to the Govenrment, after it seemed to be siding with the president in the summer of 2012. read more...

The solution concerning the fiscal measures reached is a balanced one from the dosage point of view, National Bank of Romania (BNR) Governor Mugur Isarescu said on Thursday. read more...