ECONOMY FINANCE&BANKING

FinMin Teodorovici in Brussels: First message Romanian Presidency of EU Council wants to convey is cohesion

Romania takes over the half-yearly Presidency of the Council of the European Union at an important moment for Europe, marked by multiple challenges, but we are realistic and ambitious in our approach, with common effort and political will being necessary from both the Council and the European Parliament, Minister of Public Finance Eugen Orlando Teodorovici said on Monday in the European Parliament’s Committee on Economic and Monetary Affairs (ECON).

The Romanian minister presented, on Monday, to ECON members the priorities of the Romanian Presidency of the EU Council in the economic, financial and fiscal fields.

According to Teodorovici, the first message that the Romanian Presidency of the Council of the EU wishes to convey is European cohesion, Romania’s attention being directed to the equal treatment of EU citizens. In his view, it is extremely important for the European Union to become more important and prosperous in order to provide, inter alia, security and safety for European citizens.

In his intervention, the Romanian official mentioned that the finalization of the Economic and Monetary Union is essential. Equally, promoting banking is a priority, in the context of the need for a secure and solid European financial sector.

Last but not least, the legislative proposals envisaged by the Romanian Presidency of the EU Council will refer to the reduction of the stock of non-performing loans.

Another important project that Romania will focus on will be the InvestEU instrument; the first discussion in the ECOFIN Council on this topic will take place on Tuesday, and a decision in this format of the EU Council is expected in February.

Answering a question from MEP Siegfried Muresan (EPP Group) concerning, inter alia, the European Commission proposal from 2017 on the creation of a European Monetary Fund, the Romanian minister gave assurances that he would plead on the basis of the principle that, whenever there would be discussions on budget instruments and solutions for a particular part of Europe, the other part should be considered as well, as is the case for the Eurozone countries and non-Eurozone ones.

“The discussions at the Council level will be on this basis: to discuss and find solutions for the whole of Europe,” explained the Romanian Finance minister.

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