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What the newspapers say: July 28, 2010 

de AC     HotNews.ro
Miercuri, 28 iulie 2010, 10:08 English | Press Review

Romanian wants a new IMF credit as the state needs about 13.5 billion euro, one newspaper reads on Wednesday. Elsewhere in the news, the President's Counsellor for National Security, Iulian Fota talks in an interview about Romania's bilateral relations in the region. Last but not least, the rich would avoid the tax on wealth if instated in Romania. 

Gandul reads that in 2011, if the economy will exit the recession, the government should loan from banks at least 13.5 billion euro, half of the sum being necessary to pay salaries and pensions in time and the other half being necessary to pay a part of the credits taken so far. 

Romania will take up the cheap credits offered by the EC. The state attempts to convince the EC that it deserve to get a loan in euro to cover the budgetary deficit. IMF chief of mission in Romania, Jeffrey Franks admitted on Tuesday that they are considering a new loan for Romania for months. 

Evaluations reveal that Romania will not exit the crisis next year. The agreement will end on March 2011 but the crisis will continue. 

Elsewhere in the news, presidential counsellor on national security, Iulian Fota talks for Romania libera the main issues on Romania's agenda in the region. Fota thinks that in relation with Moscow, it is not just Bucharest that needs to press the relaunch button and Romania counts on foreign investors, be it Russian or Chinese. 

Concerning Ukraine, Fota believes that the Ukrainian press answers the needs of Kiev to have an adversary at hand. Regarding South Stream, Fota underlined that Romania expressed its commitment for the Nabucco project, sustained by the EU so Romania did not lose anything when Bulgaria was invited to join the South Stream project instead of Romania. 

He said that Romania's availability for dialogue or negotiations must not be interpreted as weakness. Nevertheless, South Stream is surrounded by various problems: it is very expensive, in has an uncertain financing and there is no source of gas identified. 

Fota declared that in Europe, the diversification of gas supplies is inevitable as the US, due to the new technology managed to produce gas in other types of rocks that the traditional ones. Thus, the US gas production equalled that of Russia. 

Regarding the recent issues related to the accusations that Romania opens the back door for Moldovans to enter the EU, Fota said that the problem is based on social sensibilities like the fear of new immigrants specific to some EU countries. 

Evenimentul Zilei reads that only France, Greece, Netherlands, Switzerland, Liechtenstein and Norway tax wealths while Ireland, Sweden, Italy and Germany gave this measure up. If Romania would decide to tax by 1% all wealths above 0.5 million euro, that would place our country in line with others that tax the properties of their citizens. 

Greeks pay a supplementary tax for real estate properties of over 0.4 million euro. The tax starts from 0.1% and increases to 1% for real estates worth over 0.8 million euro. In France, the wealth taken into account when computing the tax owned is formed by: real estates, cars, furniture, shares, jewellery and expensive wines. 

In 2010 all wealth over 0.79 million euro are taxed. Such a wealth is taxed by 0.55% and the highest level of the tax reaches at 1.8% for wealth over 16.54 million euro. The ceillings are updated annually. 

A French report reads that the complexity of the tax on wealth is too high as many public servants need to do the checks and it rarely produces more than 1% of the total taxes on revenues in most countries. 

Expert Bogdan Baltazar declared that the measure denotes distress and it is an anti-economic measure. 






















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