June 25, 2016

The minister for the relation with the Romanian Diaspora Dan Stoenescu assures the Romanians in Great Britain that there is no imminent change in their situation/ The leaders of the EU founding states have met in Berlin to discuss Brexit

Valentin Țigău, 25.06.2016, 12:10

ROMANIANS IN THE UK – The minister for the relation with the Romanian Diaspora, Dan Stoenescu, has assured the Romanians in Great Britain that there is no imminent change in their situation and nothing will change in the interaction between the two states in the ensuing period of time. He underlined that, during the forthcoming negotiations, Romania will take into consideration several elements, among which: the social dimension and the impact this referendum will have on the rights and freedoms of Romanian citizens, economic and trade-related issues, the possible effects on Romanian exports as well as indirect effects on the European economy. Romania will be holding the presidency of the EU Council in 2019 and will have a say in the Brexit process, Stoenescu went on to say. He urged the Romanians willing to leave the country to work abroad to carefully analyse each offer and to accept a job based on an employment contract with clearly set out terms.

LONDON– Representatives of the six EU founding member states have today met in Berlin, following the Britons decision to leave the European community block. The foreign ministers of Germany, France, Italy, Belgium, Luxembourg and the Netherlands are discussing the process and the speed at which the Brexit enforcement procedures will unfold. Ahead of the meeting, German foreign minister Frank-Walter Steinmeier said its of utmost importance to stay calm. Following Great Britains decision to leave the EU, we cant go into recession or enter a period of inactivity, the German official said. The UKs possible financial costs generated by the decision to leave the European Union have repeatedly been underlined and warnings to that end have been issued. Moody’s rating agency claims that Great Britain is facing a long period of uncertainty, accompanied by plummeting confidence and a decrease in investments which might lead to a decrease of the economic growth rate. The agency downgraded the current AA1 rating prospects for governmental bonds. The Eurogroup president has said a restricted access to the EU is the price Great Britain should pay, and Brexit might prompt some companies to leave the City of London, the BBC correspondents report. The leaders of the EU founding states will meet to discuss Great Britains separation from the union. The first meeting, without British representation, will be held on Wednesday.

EXCHANGE RATE– In Bucharest, the national currency, the leu, has lost ground against the Euro, which stands at 4.53 lei, the National Bank of Romania announced on Saturday. The impact is lower than expected, against the backdrop of turmoil on financial markets, following Brexit, economic analysts say. The depreciation of the leu against the dollar is considerably higher, a dollar being traded for 4.70 lei. The result of the British referendum has also led to an increase in the ROBOR index, which is used to calculate interest rates for credits in lei, with a three-month maturity. The reference index stands at 0.85, as compared to a constant level of 0.75 in the past months.

ARREST – Relu Fenechiu, former transport minister, and Ion Krech, former director with the Justice Ministry, on Friday evening got temporarily arrested for 30 days. The ruling is not final. Fenechiu is accused of influence peddling and money laundering, after he reportedly received 620,000 Euros, between 2012 and 2014, from a software company, that is a 15% quota from two contracts promoted by the Justice Ministry.

REYKJAVIK – A historian with no experience in the domain of public administration, Gudni Johannesson, might become the new president of Iceland, following todays presidential election. The Icelanders will elect a new president, to replace Ólafur Ragnar Grímsson who has held this position since 1996. The election comes at a time of growing disappointment over the political elite, against the backdrop of the “Panama Papers disclosures on certain politicians who own accounts involving off-shore companies. Prime Minister Sigmundur Davís Gunnlaugsson had to step down, following the scandal, the BBC correspondents report.

FOOTBALL– Three matches are being played today in the eighth finals of the European Football Championships underway in France: Switzerland-Poland in Saint-Etienne, Wales- Northern Ireland in Paris and Croatia – Portugal, in Lens. This is the first edition in the history of the European Football Championships with 24 teams playing in the group stage.

(Translated by Diana Vijeu )