Romanian minister of Economy: Romania will discuss with the IMF and EC the debt cancellation of those companies to be included in the two integrated energy entities 

Marţi, 26 mai 2009, 16:50 English | Top News

Romania is discussing with the IMF and the EC cancelling the debt in the case of the companies that might be included in the two large integrated energy entities, Romanian minister of Economy Adriean Videanu said today. He denies that this option could trigger a procedure for breaching the EU agreements. It could be done under the allowed state support scheme he reckons, adding that there are sufficient arguments to convince the European Commission.

The Economy minister was referring to the National Pit Company (CNH) and the National Lignite Society Oltenia (SNLO), which could join two integrated energy entities created though a complex of hydro-electric stations, nuclear stations and thermal-electric power stations.

Videanu said he did not want the two integrated companies to inherit debt. According to him, there is no fix method for erasing debt, meaning the debt could be cancelled either before the integration or after.

The Economy minister also said this option would not trigger the European Commission’s infringement on Romanian treaties, and that debt cancellation could be achieved under the authorized state support scheme. "Plus, I believe we have enough arguments to convince the European Commission’s specialists" Videanu adds.