Major restrictions on the budgetary deficit and public debt, obligation to send the budget to the EU and exemption of judge control over administrative documents of public authorities that regard fiscal policies and budgetary policies – these are just some of the proposals with a major economic impact proposed by the presidency for reviewing the Constitution.
The main proposals with an economic impact:
- There is an open way for easier confiscation of some unjustified wealth
- Courts will not be able to judge on the legality of the introduction of some taxes or on decreases or increases of salaries, pensions Restrictions of the budgetary deficit at 3% of GDP and the public debt at 60% of GDP. This proposal rejects the populist takes of governments and compels them to a tougher fiscal discipline.
- The Lisbon Treaty has some rules regarding economic policies of EU member states and their economic policies and one of them is for member states to consult and inform Brussels on the state budget and social insurance budget.The new proposals to review the Constitution includes this obligation and its role is to discipline the Bucharest government
- One of the proposals aims at changing the behavior of corrupt magistrates who are not accountable for their actions. Major investors are dissatisfied with the actual state of things who want to see less corruption and an efficient judiciary.