Romania's governing coalition supports Romania's National Bank (BNR) governor Mugur Isarescu for a new term, governing Social Democratic (PSD) sources have told Isarescu is the longest serving high profile official in the post-communist country and had hinted he might retire when his current term comes to an end this fall.

Mugur Isarescu, Guvernatorul Bancii NationaleFoto: BNR
  • UPDATE Senate speaker Calin Popescu Tariceanu, leader of ALDE party, a minority partner in the governing coalition, said on Monday that following talks with PM Dancila support was agreed for Isarescu to get a new term

News of support for him from the governing alliance of Social Democrats (PSD) and Liberal Democrats (ALDE) came despite his opposition to major fiscal and economic changes pushed by the Executive for the past year. But with Liviu Dragnea, former strongman and leader of the PSD, going to jail under corruption charges last month, the PSD has been going to a process of political resettling.

Most prominently, Isarescu opposed measures introduced by the end of last year, with the support of key allies of Dragnea's in the government, which unexpectedly changed governance in the banking, telecom and other sectors. He also opposed a PSD proposal to return Romania's gold reserves from abroad back home.

He has served as governor almost permanently since the 1989 revolution, with a short 11-month break in 1999-2000 when he served as prime minister.

He has dodged clear answers to whether he was interested in another term. Isarescu, who turns 70 this year, hinted last year his age might prevent him from a new term, but in January last year he said it was the Parliament who had the choice.

According to sources, the renewal of his term is expected in an extraordinary session of the Parliament later this summer.