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What the newspapers say: September 15, 2009

de A.C.
Marţi, 15 septembrie 2009, 9:15 English | Press Review

Romania's national currency reached its worst level in the last half of the year and National Central Bank governor warns that the currency might be attacked, one newspaper reads on Tuesday. Also today, the government will take up responsibility for three laws full of errors, with unconstitutional provisions. Elsewhere in the news, the new year starts with only one hope for children and parents alike: that they can get a scholarship to study abroad. In Europe today, the EC announces the end of the recession.

Romania's leu depreciated to 4.2747 lei for one euro on Monday, marking the worst exchange rate registered since end of March and bets against the leu are fashionable again, Gandul reads. After a few months in which the currency maintained its stability, the exchange rate reveals that the leu is facing its worst moment since the IMF loan was announced.

Romania's National Central Bank governor Mugur Isarescu declared that the national currency is being attacked, through which investors are trying to take advantage of the leu's depreciation and gain money.

Even though the current depreciation is not that big, the danger of a higher depreciation looms in the horizon. After announcing the IMF agreement, investors gave up their plans against the national currency.

Also today, Cotidianul reads about a new record about to be marked by Romania's Parliament, of errors: illegal texts, serious gaps and unconstitutional rulings. Romania's PM Emil Boc is due to take responsibility for three laws including the unique salary scheme law and law on the reorganization of some agencies and public institutions.

The Legislative Council identified 64 constitutional, judicial, logical and textual flaws. The most serious errors are those that touch constitutional provisions and the Labor code. Both incorrect texts are found in the law on the organization of some agencies and public institutions.

The members of the council recommend that the Government should revise seriously the laws in question. The three laws were sent to the Parliament where a series of amendments were proposed. The Government claims that it took into account the proposals and the warnings of the legislative committee.

Elsewhere in the news, the new school year takes off with only hope, Romania libera reads, for both children and parents alike: that pupils will be able to flee the country with foreign scholarships.

Some parents questioned by the newspaper still hope that things will take a positive turn in Romania, while others admit that they will leave together with their children as soon as possible, if they had the opportunity.

In Europe, Economic Affairs commissioner Joaquin Almunia declared that the crisis improved due mainly of the exceptional funds injected in the economy by central banks and the measures taken by public authorities, Cotidianul reads.

The euro zone managed to recover from the worst recession known in the last 60 years, the European Commission estimated. However, the Commission is careful when it comes to future estimates, AFP reads, quoted by Romanian news agency NewsIn.

The European executive is more optimistic concerning the economic situation of the second half of 2009 in the 16 euro zone member states. EC expects a 0.2% GDP growth from the third quarter and a 0.1% GDP growth in the last quarter of the year.

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