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Tanasescu (IMF): Romania has necessary anchors to avoid shock following Greece euro decision

Romania has the necessary anchors to avoid a possible shock following Greece's euro-related situation, the Romanian representative at the International Monetary Fund (IMF) Mihai Tanasescu said ahead of a meeting of the visiting IMF delegation and officials of the Romanian Ministry of Economy, Trade and Business Climate on Thursday.

'Greece's situation relating the European currency will affect the entire Europe, Romania included, but Romania now has the necessary anchors to avoid a possible shock. The budget completion also represents an additional anchor in this case. The important thing is that we keep calm and prudently implement the measures agreed by the Government', Tanasescu stressed.

With respect to a decision of Greece to drop the European currency, the IMF official said the citizens have the right to choose an alternative.

'Any country should respect its citizens. Both the country and the citizens can choose. A positive or negative vote will determine the evolution of the European currency. It will survive, it will go through a difficult moment, but it will be strong', Tanasescu said.

'The European currency will survive with or without Greece's vote. Today there have been market turbulences, but also today the cut in the key rate by the European Central Bank is a sign by which the ECB seeks to be secure in the event of a possible failure of Greece. Today's discussions of the G20 in Cannes are also crucial to Europe's development', the IMF official underscored.

Authorities can freely decide on wage, pensions rise next year, provided that law is observed

The Romanian authorities are free to decide whether to rise pensions and wages next year, and the message of the IMF is none else that the law must be observed, Romania's representative to the International Monetary Fund, Mihai Tanasescu, said on Thursday after a meeting of the IMF visiting experts with representatives of the Ministry of Economy, Commerce and Business Environment.

'The authorities are free to decide whether to increase the wages and pensions in 2012, depending on the evolution of the economy. The IMF message was in this line, under full observance of the law,' Tanasescu replied when asked if the tentative rise in spending and payroll in the second half of 2012 does not run counter to the provisions of the Law on tax and budget accountability.

Law No 69/2010 on tax and budget accountability provides that 'regulatory acts resulting in higher personnel spending or pensions in the public sector shall not be promoted less than 180 days before the expiry of the Government's mandate, in accordance with Art. 110 Para. (1) of the Constitution of Romania, republished version.'

Sursa: http://www.actmedia.eu

Tags: shock greece european tanasescu avoid romania necessary anchors euro

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