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Spring European Council: Romania joined Euro+ pact

 The creation of the Euro+ pact has been decided and there were six states outside euro that agreed to join euro+ pact including Romania, President Traian Basescu announced on Friday at Brussels where he also attended the Spring European Council.

Rights to levy taxes remain a national right otherwise a country like Romania would not have joined, the President said.

The chief of state announced at Brussels that the European Stability Mechanism will be instated starting January 1st 2013 and will be functional starting June 2013. According to the head of the state, the total fund to be subscribed under the Mechanism is 700 billion euros. 'I believe it is extremely important that the final version of the decision to amend the Treaty on the creation of the European Stability Mechanism was adopted today. This is about the famous December amendment of Article 136. Since the Council passed the decision to kickstart the procedure, the legal approvals from the European Commission, the European Central Bank and the European Parliament have been obtained. With the conditions fulfilled, the Council approved today the decision to amend the Treaty,' said President Basescu.

'Although Romania is not affected at this moment and therefore does not need to contribute to the fund, this was important because, sooner or later, we will join [the eurozone],' said the head of state. Basescu also said that according to the initial proposal for the distribution of the contributions, Romania should have contributed 2.3 - 2.4 bln euros, but another formula was identified in the meantime which - if implemented - would take Romania's part to 1.3 - 1.4 bln euros.

'A key decision taken today was the creation of the pact for Euro Plus. Until this Council meeting, it was called the pact for competitiveness,' said the head of state, who participated in the spring meeting of the European Council in Brussels. He added Romania was one of the six countries willing to accede to the pact.Basescu said the pact aims to stimulate competitiveness and employment, fight the black labor market, increase the sustainability of public finances and strengthen financial stability.

Non-eurozone countries Bulgaria, Denmark, Latvia, Lithuania and Poland joined Euro Plus alongside Romania, the Romanian Presidency said in a press release. The measures stated in the pact will be transposed into national reform programs, according to the Presidency.

Regarding Libya, the European Council decided to accelerate humanitarian aid assistance, protection of civilians and support for democratic aspirations of the Libyan citizens, Basescu said. The Council approved procedures to increase the level of sanctions for Libya, including blocking oil product sales to cut any financial means of the regime, Basescu announced. Regarding Japan, all EU member states committed to implement the most modern technologies in the nuclear sector.

Sursa: http://www.actmedia.eu

Tags: euro basescu joined romania european council spring

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