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Constitutional green light for BCR privatization

Luni, 9 octombrie 2006, 0:00

The Constitutional Court in Bucharest approved with a majority of five to four on Monday the terms of a law for the approval of the governmental ordinance on the conclusion of the privatization process of the Romanian Commercial Bank, which the court found as constitutional.

.The Romanian government had decided on September 20 to postpone the conclusion of the BCR sale by a month until October 20 after the Constitutional Court failed to make a decision on the alleged unconstitutional status of the transaction.

The claim had been submitted by 39 senators who claimed the government had abused its duties by issuing an ordinance on the privatization of BCR.

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