English Section

27 iunie 2018

A VOTE FOR AN UNFORGETTABLE SUMMERA hopeless vote of no-confidence

In the plenum joint meeting of the Chamber of Deputies and the Senate, which will be held today starting at 14:00, will be debated and put up for vote the vote of no-confidence against the government submitted by 152 members of the opposition.

The document which incriminates the failures of the Dăncilă government has been read in the Parliament on Monday, June 25th.

The transition towards autocracy

Even without the court ruling rendered in first instance by the High Court of Cassation and Justice in the lawsuit of the fictitious hiring at the Child Protection Department of Teleorman the focus on getting all the institutional levers under the - informal, but all the more important - authority of Liviu Dragnea. But, after his conviction on June 21, this trend will speed up. But only through this kind of concentration of power can the president of the Chamber of Deputies hope to change not only the balance of power - which is already favorable to him, even though nothing is final in politics -, but the legislation based on which he has been sentenced, so that he gets exonerated of any legal responsibility. Or, when the powers of the state are concentrated in the hands of one man, democracy, even though it may be only a façade, moves aside to be replaced by autocracy. And in Romania, the temptation of autocracy, hidden under the veil of illiberalism, is more powerful than it has ever been, after the fall of communism. Could this be just an accident owed to the meteoric apparition of Liviu Dragnea?

Three scenarios for the suspension of the President

The Romanian Constitution:

Art. 80 - The role of the president

(1) The Romanian president represents the Romanian government and is the guarantor of national independence, unity and territorial integrity.

(2) The Romanian president must watch for the compliance with the Constitution and the good functioning of the public authorities. For that purpose, the president serves as a mediating entity between the powers of the state, as well as between the state and society.

The chronology of the reunion

The reunion scheduled today between Donald Trump and Kim Jong-un is taking place in Singapore due to the relative neutrality and the security this city-state provides. Singapore is one of the few countries that still hosts a North-Korean embassy, and many of the deals of the Kim regime were conducted here, according to the foreign press.

The banking revolution in Switzerland

"It is a good thing that the public doesn't understand the functioning of our banking and monetary system, because otherwise I think there would be a revolution in the streets by dawn".

HENRY FORD, founder of the American automotive industry

Fed up with subsidizing the commercial banks with their own money, the Swiss, mobilized through the "Sovereign Money" initiative, have proposed the organization of a Referendum which will be held on Sunday, June 10th 2018 - is a historical referendum, revolutionary for the banking industry, of international resonance -, by which the initiators want to amend the Constitution, which would impose to the commercial banks to grant loans only within the limits of the bank's money, forbidding them to issue scrip money and ensuring the monopoly of the Confederation (of the Swiss state) on issuance of money free of debt.

1 Euro5.0770

1 Fr. elveţian5.4594

BNR

1 Liră sterlină5.8792

BNR

1 Dolar SUA4.3974

BNR

1 Gram Aur470.9900

BET20023.82

BET FI63389.91

BET NG1438.07

Again about the Second Pillar in 1000 words

The "pension apocalypse is coming"! The more or less qualified keep talking in the written press, TV and on the radio. The uncertainty is being preserved - deliberately by some, by the government members out of pure stupidity!

"Where there are entrepreneurs there is creation, where there are women entrepreneurs there is divine creation"

GABRIELA MIHAELA VOICILĂ, THE BUSINESS ENVIRONMENT MINISTER:"Where there are entrepreneurs there is creation, where there are women entrepreneurs there is divine creation"

Where there are many entrepreneurs there is creation, where there are many women entrepreneurs there is divine creation, says Gabriela Mihaela Voicilă, state secretary in the Ministry for the Business Environment, Trade and Entrepreneurship...

lawsuits against the banksThe County court of Cluj has frozen the exchange rate for the Euro at the value it had on the date the loan was originated, in a lawsuit against Raiffeisen Bank.

IN THE LAWSUITS AGAINST THE BANKSThe courts have begun freezing the Euro exchange rate at the historic value

• Piperea: "In the Andriciuc case, the EU Court of Justice has not limited its argumentation to the CHF, but expanded it to cover any currency for which the debtors weren't hedged"

IN THE ROMANIAN BANANA REPUBLIC...The exogenous factor provides, bless the exogenous factor!

The urge "Mircea, act like you're working!", back in the days of the so-called revolution of December 1989, was brought back recently by a new "director".

The promised embassy in Jerusalem

Liviu Dragnea's insistence in moving the Romanian embassy from Tel Aviv, to Jerusalem, feeds an older, widespread confusion. Much older. Politically, Jerusalem has been divided from the first presence of the Judeans on the lands of the...

Financial fair-play means health of the press

Financial fair play is a concept that comes from the world of soccer. The notion is simple, don't spend more than you earn in a month, or in a year, regardless of what shareholder, mogul or investor enters the business.

Klaus Iohannis: "The entire legislative package has been passed by the parliament in one week, and then naturally, more than four months and three decisions of the CCR have been necessary to correct some of its provisions".

Iohannis has established the course of the law of the judicial system: The Venice Commission - the Romanian Constitutional Court

President Klaus Iohannis has announced that he has decided to send to the Constitutional Court the laws on the judicial system, but also to the Venice Commission. The president has issued a call to the CCR not to hurry and to work with the...

Rich - healthy, longevous; poor - fat chance of both

The dystopia of 2169 seems to be 151 years away from us, if we were to watch the American sci-fi movie "In Time", in which New Zealand screenwriter, director and producer New Zealand Andrew M. Niccol has imagined a world in which money...

DEPUTY PRIME-MINISTER VIOREL ŞTEFAN: "The sale of ArcelorMittal Galaţi will be done only with the explicit agreement of the Romanian state"

• Bogdan Chiriţoiu: "The European Commission will force the future buyer of Sidex Galaţi to increase the output of steel"

Iliescu on trial - history begins now...

• "Iliescu on trial for all the bloodshed!" was one of the powerful slogans of the University Square, as well as "Iliescu - KGB, go back to the USSR!".

"Mission Accomplished!"

• - The Syrian gas attack did not exist, the American missiles were brought down, then where are the dead coming from?!

Soros, Rothschild, Rockefeller and a buddy of mine from India are investing in the farce called Bitcoin

New Delhi, March 4th, 2017 - I am in the garden of the Royal Plaza hotel, sitting next to the table of a group of Indians, probably Hindus, two women in colorful saris and two men, all of them in their fifties. They are checking me out, I...

FOR THE FIRST TIME AFTER THE LOSS OF 2.6 BILLION LEI OF 2014BCR proposed the distribution of dividends

The Romanian Commercial Bank (BCR) has proposed to shareholders the distribution of dividends of 228.12 million lei, out of the profit of 570 million lei, for last year, this being the first year with such an item on the agenda of the General...

Does the National Bank of Romania still have a monetary policy strategy?

The website of the National Bank of Romania still includes the statement that its monetary policy strategy is the direct targeting of inflation.

No investor have expressed interest in the privatization of the Sanevit Arad syringe factory

No investor has expressed interest in the privatization of the "Sanevit 2003" disposable syringes factory of Arad, as part of the last procedure initiated by the Ministry of the Economy, which took over the company in 2012 to save ut from...

ALEXANDRU BOTEZ, ELECTRICA SHAREHOLDER:"Daniel Chiţoiu and ALDE are behaving as if Electrica were their own fief"

The proposal of the Ministry of Energy that the shareholders of Electrica (EL) decide, in the General Shareholder Meeting of April 27th, the election of the members of the Board of Directors, through the cumulative vote method, for a term of four...

Financial crisis yellow code warning in the United States

"The markets are turning into the markets' greatest enemy", wrote an analyst of Goldman Sachs in a note addressed to its customers, according to an article by Bloomberg, and the jump in the VIX volatility index last month "is a...

AS SHAREHOLDER,Dan Paul sues "Cemacon"

• UPDATE 15.45 "Cemacon" confirms the lawsuit brought by Dan Paul

Press: "The NBR has blocked the acquisition of Banca Românească by OTP Bank"

THE NATIONAL BANK OF ROMANIA ISN'T COMMENTING, EVEN THOUGH BOTH COMMERCIAL BANKS ARE LISTED ON THE STOCK EXCHANGEPress: "The NBR has blocked the acquisition of Banca Românească by OTP Bank"

The National Bank of Romania (BNR) has blocked the acquisition of Banca Românească by OTP Bank România, according to information which appeared yesterday in the Romanian press, as well as on some foreign websites. Thus, the NBR hasn't issued...

The OMV board has presented the company's strategy until 2025.

RAINER SEELE, OMV:"We are dedicated to collaboration with Gazprom and we won't endanger our partnership"

OMV wants to reduce its dependence on the European market, between 2020-2025, and will focus on acquisitions in the Middle East and Asia Pacific, according to CEO Rainer Seele.

ACCORDING TO AN EUROPEAN COMMISSION DOCUMENT, SEEN BY BLOOMBERGThe EU wants to set 25% tariffs on various US imports

The European Union (EU) intends to apply tariffs for imports of 2.8 billion Euros (3.5 billion dollars) in the US, from T-shirts and bourbon, to motorbikes, if American president Donald Trump continues its plan to impose 25% tariffs for foreign...

USA: "We will not exempt any country from the application of steel and aluminum tariffs"

One of the top advisors to US president Donald Trump has recently announced that the US will not make any exception from the application of tariffs set on imported steel and aluminum, even if the EU is preparing reprisals, according to ft.com.

LAST WEEK, ROMANIA HAD THE BIGGEST IMPORTS OF NATURAL GAS IN THE LAST FIVE YEARSANRE, auditing Transgaz, E.ON, ENGIE and OMV

Last week, Romania imported about one third of the daily natural gas consumption to get it through the cold winter period, these being the biggest daily imports of natural gas in the last five years, according to some sources from the energy...

A POSSIBLE CONTRACT FOR THE SPARE PARTS NEEDED BY PATRIOT MISSILESAll time high for "Aerostar" stock, after the "Raytheon" quote request

Shares of "Aerostar" Bacău (ARS) yesterday rose 6.5%, to 5.24 lei/share, taking the company's valuation to an all time high - 797.93 million lei, after American company Raytheon announced that it has requested a quote from ARS, to get...

REPORT FROM BRUSSELS / EUROPEAN ENERGY COMMISSION:"The amendments of the Industries Commission to Emergency Government Ordinance 64 cannot be approved"

The European Commission is encouraging dialogue with the Romanian authorities concerning Emergency Government Ordinance 64 of 2016 concerning the natural gas sector, but if the issues on this matter cannot be resolved, we may resort to the...

The merit of Antena 3

The success of Antena 3 is admirable! Dan Voiculescu has once again proved his usefulness, his television has created the somewhat plausible media context for justice minister Tudorel Toader to dare make his proposal for the revocation of Laura...

Toader proposes the revocation of Kovesi

The dismissal of chief DNA (National Anti-corruption Department) prosecutor Laura Codruţa Kovesi was announced last night by Justice Minister Tudorel Toader, at the headquarters of the Ministry, after presenting the justification of the decision,...

"The capping of interest rates is a European practice. There are numerous countries in Europe which practice a capping of interest rates and we have decided to join them as well. The measure will be valid for banks as well as for IFNs, only for new contracts", Daniel Cătălin Zamfir said.

LIBERAL SENATOR STRIKES AGAINZamfir caps interest rates on loans

PNL senator Daniel Cătălin Zamfir does not disappoint. His draft law concerning the capping of interest rates was the first that appeared on the agenda yesterday, in the common meeting of the specialized commissions and despite the controversies...

UPON REQUEST FROM ONE SHAREHOLDER,The DIICOT brings prosecution in rem, in the Romcab case

The DIICOT prosecutors have begun prosecution in rem of the actions, in the "Romcab" (MCAB) case, according to a response sent by the prosecutors to Valentin Stănescu, a shareholder in the company.

Prosecutor Mircea Negulescu was sending love messages to Andreea Cosma.

The Cosma family, by William Shakespeare

Decorated by Traian Băsescu with the Star of Romania, Gunther Krichbaum, the president of the European Affairs Commission of the Bundestag, asks the president of the European Commission, Jean Claude Juncker, through a letter, not to suspend the...

"We are happy that the offshore perimeters in the Black Sea will start being exploited"

VALERY KUZMIN, AMBASSADOR OF THE RUSSAIAN FEDERATION IN BUCHAREST: "We are happy that the offshore perimeters in the Black Sea will start being exploited"

We are happy that the perimeters on the continental coast of Romania (ed. note: offshore in the Black Sea) will start being exploited, because there lies inactive a very important resource of the energy industry, his excellency Valery Kuzmin,...

IN THE MEETING WITH THE ANRMSources: "The US embassy took interest in the reference price for natural gas"

The management of the National Mineral Resources Agency (ANRM) met on Tuesday with Shelley Saxen, deputy economic advisor of the US embassy in Bucharest. On the agenda was last Friday's order issued by the ARNM which establishes the reference...

The ANRM has once again decided to raise the reference price for natural gas

The reference price for natural gas extracted from Romania, in order to establish the royalties, will be calculated based on the trading prices of the CEGH Viena hub, the National Agency for Mineral Resources announced on Friday, which issued the...

Volatility is back on the global markets with a vengeance

The Black Monday of 1987 came two months after the beginning of the term of Alan Greenspan as head of the Federal Reserve. Back then, the Dow Jones Industrial Average (DJIA) fell 508 points, 22.61% below that of the previous trading day.

An investor has filed a complaint against "Certinvest" with the ASF

Investor Mihai Dragoş has filed a complaint with the Financial Oversight Authority concerning the open fund Certinvest Dinamic, managed by Certinvest.

Who "owns" the stupid things said by the employees of the NBR?

The National Bank of Romania (NBR) thinks that the National Liberal Party (PNL) is a pariah.

Sex and the country with Viorica Dăncilă

The female prime-minister seems like a victory against sexism. The emancipation of our women seems to find its expression in the appointment of Viorica Vasilica Dăncilă as head of the Executive.

Customer: "Bancpost has sold my loan to an LLC from Holland, and my money ended up in Cyprus"

THE SALE OF BANCPOST HAS REOPENED THE ISSUE OF LOANS PAID ON TIME, SOLD IN HOLLANDCustomer: "Bancpost has sold my loan to an LLC from Holland, and my money ended up in Cyprus"

The sale of Bancpost to Banca Transilvania, without the loans paid to day that were assigned in the past to a Dutch entity, has once again brought up the issue of loans sold abroad, even though they were performing. Customers who have found...

The year of the great budgetary leap... into the void

The issue of the funding of the budget deficit will become acute in 2018, as the government authorities show us that they haven't learned anything from last year's experience.

Journalist Cristi Popa wins the lawsuit against Profit.ro and is awarded compensatory salaries of over 40,000 Euros

RULING OF THE COURT OF APPEALJournalist Cristi Popa wins the lawsuit against Profit.ro and is awarded compensatory salaries of over 40,000 Euros

Journalist Cristi Popa has won in the Court of Appeal the lawsuit against Profit.ro Publishing SA, by which he had disputed the decision by which he had been laid off in 2016, as the court decided that he would be reinstated to the job he held...

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