August 5, 2016 UPDATE

The Romanian PM Dacian Ciolos has announced, at the end of the subscription campaign for the “Centenar government securities, that the issue has been a success / “Untold, the biggest music festival in Romania, continues in Cluj Napoca

Newsroom, 05.08.2016, 12:30

SUBSCRIPTION – The Romanian Prime Minister Dacian Ciolos has announced, at the end of the subscription campaign for the “Centenar” government securities, that the issue has been a success and it has attracted more than 700 million lei from citizens. He has also said that more than 20,000 people participated in the campaign, which could be seen as the start of a process with the help of which Romanians will get familiarized with a set of financial tools. The Romanian Finance Ministry issued government securities for citizens in 2015, for the first time after 10 years, with a nominal value of 1,000 lei. Most investors are from the urban area, with Bucharest on top of the subscription list.

ECONOMY-The National Bank of Romania has revised downwards this year’s inflation forecast. According to the Central Bank Governor Mugur Isarescu, inflation will remain negative until the end of 2016, although in May the estimated rate was 0.6%. Isarescu has stated that in 2017 inflation will return to the variation range targeted by the National Bank, and in 2018 it will reach the upper end of the range.

MOURNING — The President of the Republic of Moldova, Nicolae Timofti, on Friday signed a decree to declare August 13, 2016 a day of national mourning, “in token of deep regret and grief for the death of Queen Anne of Romania.” The state flags will be flying at half-mast in all towns and cities, as well as at the Moldovan diplomatic and consular missions. The funeral of Queen Anne of Romania is scheduled for August 13, at the Curtea de Arges Monastery, in southern Romania. Princess Anne of Bourbon Parma, known as Queen Anne, 92, the wife of Romania’s last king, Michael I, passed away in Switzerland, after a long suffering.

TURKEY-The US Secretary of State John Kerry is going to pay a visit to Turkey on August 24th, the Turkish Foreign Minister Mevlut Cavusoglu has announced. The American official’s visit will take place approximately one month since the failed military coup in Turkey, which rendered bilateral relations rather tense. Ankara has repeatedly called on Washington to extradite preacher Fethullah Gülen, accused by the Turkish authorities of having masterminded the coup. The US has called on Ankara to provide evidence of Gülen’s involvement. On Thursday, a court in Istanbul issued a warrant for the arrest of the former imam, which is the first step in the process of starting a formal request for his extradition. The US Department of State has stated that the US is analysing the new documents submitted by Turkey. Fethullah Gülen, who’s been living in the American state of Pennsylvania since 1999, has denied any involvement in the failed coup.

FESTIVAL-The Romanian Foreign Minister Lazar Comanescu has held talks in Bucharest with the director of the EUROPALIA International Festival, Baroness Kristine De Mulder, who paid a visit to Romania over August 2nd – 5th. Comanescu has mentioned Romania’s successful covering of the stages needed for it to be the guest of the 2019 edition of the festival, which is the most important such event in Belgium. Launched in Brussels in 1969, Europalia is a international art biennale, which promotes the heritage and cultural diversity of the guest country. In 2017, the honorary guest will be Indonesia. At the previous editions, the guests have been Italy, France, Spain, Portugal, the Czech Republic, Poland, Russia, China, Brazil, India and Turkey.

MUSIC-“Untold”, the biggest music festival in Romania, continues in Cluj Napoca, central Romania. Until August 7th, the audience will have the opportunity to see over 150 international artists and some of the most en vogue DJs in the world. The organisers of the event estimate that the turnout will stand at some 350,000 people in four days of festival.

FOOTBALL — Romania’s football vice-champion team, Steaua Bucharest, will face the strong England team Manchester City, in the Champions League play-off round, according to Friday’s draw in Nyon, Switzerland. Steaua will play the first match on home turf, and the return match away from home. If it goes past Manchester City, Romania’s vice-champion team will qualify to the Champions League group stage. Otherwise, Steaua will play in the Europa League group stage. Also on Friday, Romania’s champion, Astra Giurgiu, found out what team it will be facing in the Europe league play-offs: the English team West Ham United. Astra failed to qualify to the Champions League play-off round, after sustaining a 3-0 defeat away from home with Copenhagen FC, and ended the first match 1-1, on home turf.

(Translated by M. Ignatescu and D. Vijeu)