July 29, 2016

Deputy Governor of Romanian central bank, taken in for influence peddling, faces 30-day arrest

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Newsroom, 29.07.2016, 00:00

CORRUPTION – The deputy governor of the National Bank of Romania, Bogdan Olteanu, will appear today before the High Court of Cassation and Justice, which is to rule on a 30-day arrest request filed by the National Anti-Corruption Directorate. Olteanu was taken into custody on Thursday night for influence peddling. According to prosecutors, between July and November 2008, while serving as Speaker of the Chamber of Deputies, Olteanu requested and received 1 million euro and election support from a business man, in exchange for appointing someone as governor of the Danube Delta. The same source mentions that the individual in question was appointed Danube Delta governor in September 2008. The National Anti-Corruption Directorate has started prosecution proceedings against other individuals as well. A Liberal since 1991, Bogdan Olteanu has been a deputy governor of Romanias central bank since 2009. The National Bank explained in a news release that the investigation targets Bogdan Olteanus activity before he was appointed deputy governor.

UNEMPLOYMENT – The unemployment rate went down by 0.2% in July, to 568,000 people between 15 and 74 years of age currently jobless, the National Statistics Institute has announced. Unemployment among men is higher than the corresponding rate for women. People aged between 25 and 74 account for 78% of the total number of people on welfare in July.

ECONOMY –Fitch rating agency lowered its long-term local currency debt rating for the city of Bucharest from “BBB to BBB-, with stable outlook. According to the Agency, the changes take into account developments related to the country rating, because the rating for specific administrative units cannot be higher than the national one. Last week, Fitch adjusted Romanias long-term local currency rating to the BBB-, stable outlook rating for long-term foreign currency debt. Fitch also confirmed the ceiling for Romanias country rating at BBB+.

US ELECTION – Hillary Clinton has officially accepted the Democratic nomination for president of the US. The former state secretary became the first female presidential nominee, and her speech closed the Democratic Convention, launching Clintons direct race against her Republican opponent Donald Trump. During the Convention, the latter was subject to several attacks by key Democratic leaders, including President Barack Obama and vice-president Joe Biden. They accused Trump, a billionaire brought to public attention by a reality show, of demagogically posing as a defender of the middle class. Hillary Clinton has also criticised Trump, saying his vision divides the Americans. In her address at the Democratic Convention, Hillary Clinton emphasised her political experience, both as a senator and as a secretary of state, and approached all the topics of importance to American voters, from gun control to the need to revive the middle class.

TURKEY – The European Commissioner in charge with Turkeys EU accession negotiations, Johannes Hahn, warned Ankara with respect to its treatment of suspects after the attempted coup. He said that suspicions of treatment in breach of human rights legislation would have consequences. Hahn mentioned that the migrant subsidy agreement with Turkey was in force, and the migration wave towards the EU had been reduced. After the failed coup of July 15, Turkish authorities proceeded to a crackdown on all those suspected of involvement. Many observers speak about cleansing, given the scope of the campaign initiated by the authorities: over 60.000 army, judiciary, police, administration and education personnel have so far been arrested, fired or suspended from office.

TENNIS – The Romanian tennis player Simona Halep, no. 5 in the world, is playing today against Russian Svetlana Kuznetsova (11 WTA), in the quarter-finals of the WTA tournament in Montreal (Canada), which has 2.4 million dollars in total prize money. In the eighth-finals, Halep, which last year played the finals of this tournament, defeated the Czech Karolina Pliskova.