February 16, 2019 UPDATE

The EU to have a more solid framework for bank regulation and supervision

Newsroom, 16.02.2019, 19:33

AWARD – ”Monsters”, the debut feature film of Romanian director Marius Olteanu won the award offered by the Tagesspiegel readers at the 69th edition of the Berlin Film Festival. The film, selected in the Forum category, tells the story of Dana and Arthur, two young people married for eight years. The film explores their life together for 24 hours, and the way in which various problems and encounters with other people brings along the end of their relationship. Marius Olteanu is both the film’s director and scriptwriter.

PRESIDENCY – Romanian President Klaus Iohannis said on Saturday that the international multilateral system is under growing pressure, that the solution in this case is cohesion and that the main objective should be an Enhanced European Commitment. That is why, the President went on to say, this message of unity and cohesion clearly defines Romania’s priorities at the helm of the Council of the EU. President Iohannis, attending the 55th edition of the Munich Security Conference as the guest of honor, has also said that efforts should focus on developing a harmonized approach between NATO and the EU. In his opinion, this could be done by combining NATO’s comprehensive role in collective defense with the EU’s integrated approach to crisis management.

MEETING – President Klaus Iohannis reiterated on Saturday, during a meeting with the American Vice President Mike Pence, Romania’s firm commitment to consolidating the Strategic Partnership with the US and to strengthening the trans-Atlantic ties. According to the Presidential Administration, the two officials have evoked the excellent stage of the Romania-US Strategic Partnership and ways to strengthen it, with an emphasis on its economic and defense dimensions.

FLU – In Romania, the number of deaths caused by the flu stands at 128. The most recent victim is a 27-year-old woman who suffered from additional health conditions and had not been vaccinated against the flu. We remind you that Romania is facing a flu epidemic.

CANDIDACY – The Social Democrat Mircea Draghici on Saturday announced that he decided to withdraw his candidacy for the position of Transport Minister of the Bucharest cabinet. His party colleague, Lia Olguta Vasilescu did the same on Tuesday, when she withdrew her candidacy for the position of Minister of Regional Development and Public Administration. The two had been proposed for these posts by the Social Democratic Party, the main party of the ruling coalition. President Klaus Iohannis had rejected Lia Olguta Vasilescu’s candidacy but had not made any specification as regards Mircea Draghici.

BUDGET BILL – The government majority formed by the Social Democratic Party and the Alliance of Liberals and Democrats, with the support of the Democratic Union of Ethnic Hungarians in Romania, on Friday passed the budget bill proposed by the government without major changes. The budget is based on an economic growth rate of 5.5%, a deficit level of 2.76% and a GDP of over 1,000 billion lei (the equivalent of more than 200 billion euros). The government says healthcare, education and investments are the privileged areas. The Opposition, however, says that the budget is based on unrealistic economic estimates.

PROTESTS – Rallies were held on Friday in Bucharest and other Romanian cities in support of the former head of the anti-corruption directorate, Laura Codruta Kovesi and against the government coalition made up of the Social Democratic Party and the Alliance of Liberals and Democrats. On Friday, Kovesi went to the Department for the Investigation of Magistrates with the General Prosecutors Office in Bucharest to be briefed upon the accusations leveled against her in a file where she has been charged with abuse of office, bribe-taking and false testimony. After the hearings, Kovesi said she had submitted two recusation applications against both the special prosecutor and the departments chief prosecutor. Kovesi said she wasnt guilty and that there was no coincidence that the subpoena she received came right ahead her upcoming interview with the European Parliament for the position of European chief prosecutor. The local press has credited Kovesi as Romanias right candidate for the job.

EU – The European Union will soon have a more solid framework for bank regulation and supervision after ambassadors of the member states have approved an accord reached by the Romanian Presidency of the Council of the EU and the Parliament in Strasbourg. The document provides for a series of revised norms aimed at reducing risks in the EU banking sector. The measures agreed on will provide the guarantee that the banking sector has enough capital to grant loans to natural persons and companies under safety conditions, Romanian Finance Minister Eugen Teodorovici has said.

RUGBY – Romania’s national rugby team defeated Germany on Saturday 38-10 in the second match of the 2019 Rugby Europe International Championship held in Botosani, in north-eastern Romania. Romania lost the first match to Georgia, 9-18 in the Romanian city of Cluj while Germany was defeated by Belgium in Brussels. Romania is on the 18th place in the world rankings while Germany is on the 27th place. (Translated by Elena Enache)