ECONOMY FINANCE&BANKING

Isarescu: My term will expire in 2019. Parliament will decide whether I’ll have another one at 70

National Bank of Romania (BNR) Governor Mugur Isarescu stated on Wednesday that his term in office will expire in 2019, when he turns 70, so he should step down just like in teachership, but “Parliament will decide.”

Asked by journalists to clarify whether he will indeed step down, Mugur Isarescu once again emphasised that “this topic is not relevant now,” however he pointed out that he will turn 70 and, “at 70, a university professor can no longer teach.”

“At any rate, the term expires next autumn; I’m turning 70, and it’s like in teachership, after 70 it’s no longer possible. Parliament, in its wisdom, will decide,” the BNR Governor said.

Born on 1 August 1949 in Dragasani (Valcea County), Mugur Isarescu is one of the world’s Central Bank governors with the longest stints in office, being at the helm of the BNR since 1990.

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