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May 12, 2021

Basescu reconfirms Romania commitment to apply fiscal governance deal

President Traian Basescu was set yesterday to reconfirm to the European Council that Romania is committed to implementing the Fiscal Governance Agreement passed by EU leaders last week. Without this reconfirmation, the country cannot take part in the project, expected to be validated by the Council in March next year, President Basescu told cabinet members during talks on Wednesday evening.

“I think we will have no problem to reconfirm our commitment to this fiscal union agreement,” Basescu said, according to Mediafax. The meeting with cabinet ministers at Victoria Palace on Wednesday evening was the last round of talks on the agreement, which included meetings between the president and the opposition, the ruling coalition and Parliament leaders.

During the talks, the president called on the government to show solidarity in implementing the agreement, which sets a maximum deficit level of 0.5 per cent and limits the sovereign debt at 60 per cent of the GDP, underlining that the document will step up Romania’s eurozone integration process. Basescu also snubbed opposition criticism that he did not hold consultations with the political class before going to Brussels and including Romania in the agreement. He underlined that his presence in Brussels at the EU Council is based on a Constitution-given mandate which provides that the head of state represents Romania abroad.

Detailing the conclusions of Wednesday’s talks, the president reiterated that in his opinion, the best way of implementing the agreement’s provisions is by changing the Constitution, an idea that the opposition rejects. He said that if parties reach consensus on the fact that the fundamental law indeed needs to be revised, he was confident that the revision would be done in time. He explained that parties remain at odds over the idea of holding a nationwide referendum on constitutional review at the same time with next year’s merged local and legislative elections. The head of state said he was willing to act as a mediator between parliamentary parties in order to set a date for the referendum.

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