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Bucharest
April 19, 2021
BUSINESS

BNR employees to challenge wage cuts in court

The Ministry of Finance (MFP) has included Central Bank (BNR) employees in the order transferring to the state budget of the sums resulted from diminishing civil servants’ salaries by 25 pc, Realitatea reports. National bank personnel do not normally have the status of civil servants and European regulations – implicitly the Accession Treaty – restrict the right of governments to interfere with the salaries paid by member states’ central banks. Considering this, and evoking Art. 11 of the Constitution that compels the state to fulfill “as provided, and in good faith” the obligations assumed through international treaties it is part of, the European Central Bank (ECB) ruled as illegal the measures envisaged by Romanian authorities. MFP ignored the warning issued by ECB Governor Jean-Claude Trichet and enforced the decision to cut salaries. Sources with BNR said the bank will challenge the decision at the Constitutional Court of Romania (CCR).

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