BNR new Board of Administration voted by parliament

The main strategic objective of the Board of Administration of the National Bank of Romania (BNR) will be to adopt the EUR, at the horizon of the years 2014-2015, BNR governor, Mugur Isarescu, declared yesterday in Parliament.

"It seems to be our fate that this objective would overlap with a new mandate. I believe that this mandate can be carried out and can be the catalyst likely to give coherence to the macroeconomic policies," Isarescu said.

The governor of the Central Bank estimated that the new leadership of the institution, submitted by the specialized commissions, benefits from an asset, namely that there is a majority which assures the continuity.

In his opinion, although the new Board has from several points of view a rather difficult period, because it starts its activity in a difficult period of economic crisis, it will fulfill its duty.

As for the old BNR leadership, Isarescu stated that he appreciates them, because through cohesion, professionalism and balance they managed to fulfill some of the important objectives in connection with Romania's accession to the European Union, such as the liberalization of the capital account in a period "with many temptations, traps, a deceiving period."

The new membership of the Board of the National Bank of Romania was validated in the common meeting of the Senate and Chamber of Deputies. The parliamentary commissions on budget and finance endorsed on Tuesday the new Board of Administration of the National Bank of Romania, in which, apart from the position of governor for which Mugur Isarescu was unanimously voted, PSD obtained three positions, PDL and PNL two each, and UDMR one position.

On another hand, the daily 'Gardianul' stressed that the nomination of Bogdan Olteanu for the office of vice governor of the National Bank of Romania stirred the tough criticism of the politicians and also of the economic analysts. According to them, the appointing in BNR Board of uninformed persons, backed from the shade by certain groups of interests, jeopardizes the national safety through the possible leaks of vital information to the business circles. The specialists are afraid that some key-information may arrive in the hands of moneyed "slyboots" who could make speculations on the foreign currency market.

Boc has allegedly considered an ordinance for BNR

Premier Emil Boc declared yesterday that it is not impossible to initiate an emergency ordinance in the conditions in which the plenum of the Chamber of Deputies and Senate has not validated the new leadership of the National Bank of Romania, considering that the mandate of the current Board expires on October 10. "PDL's stand is very clear: we shall participate to the meeting which targets the National Bank of Romania, provided that this point alone would be on the agenda. But, unfortunately, the procedures of nomination and representation have been violated also in this case by the political parties, but PDL will participate to this meeting if the Permanent Bureaus make a decision regarding BNR," Boc declared, after a meeting with the Democrat-Liberal MPs.

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