Radio România Internațional

Tag: Central Bank Governor Mugur Isarescu

  • The Central Bank and the Romanian Treasure in Moscow

    The Central Bank and the Romanian Treasure in Moscow








    The National Bank of
    Romania (BNR) will launch several events meant to reaffirm that Romania has a
    fully valid right of claim from a historical and legal point of view over the
    Romanian treasure sent for safe-keeping to Moscow. The project starts from the
    observation that abroad, even among the European decision-makers, the issue of
    the Romanian treasure is largely
    unknown, therefore, a first step will be to inform the members of the European
    Parliament and bring this topic to the attention of the international community.
    The Central Bank has consistently implemented, since 1991, a strategy regarding
    the presentation to the domestic and foreign public opinion of the issue of the
    treasure sent to Moscow during the First World War and then seized by the
    Soviet Union, stated the governor of the BNR, Mugur Isărescu, at a seminar on
    this topic organized, recently, at the headquarters of the Central Bank. He
    added that, this year, when it is 107 years since the evacuation of Romania’s
    treasure to Moscow, the BNR proposes to relaunch the process of
    internationalization of issues related to this theme.


    Mugur Isarescu: The treasure of the National Bank of
    Romania, the gold treasure sent to Moscow for safe-keeping, therefore deposited
    in an allied country, accompanied by the necessary documents and under an
    international agreement recognized and validated by history, remains the only
    case in which the gold treasure of a country is entrusted with proper documents
    and the depository’s guarantees that it will be returned at
    any time, at the request of the owner, in which
    subsequently these assumed obligations, according to all international
    norms and customs, are not observed.




    The Central Bank Governor has
    stressed that the National Bank of Romania has continuously taken actions towards
    the recovery of the treasure, which culminated in the recognition, within the
    joint Romanian-Russian commission dedicated to discussing this topic, of the
    fact that the documents presented by the Romanian side represent authentic
    documents, with the value of an international treaty, which certifies the
    deposit by Romania in Russia, in Moscow, of the assets of its treasury,
    including that of the BNR. The Central Bank has a file, since 1922, containing
    all the original documents related to the evacuation of the Romanian treasury,
    a file handed over time from one governor to another, including during the
    communist period. During the First World War, due to the difficult situation at
    the front, the BNR took measures to keep its treasure safe.




    According to official
    documents, in total, in December 1916 and July 1917, the BNR deposited in
    Moscow 91.48 tons of fine gold, as well as Queen Marie’s jewels. In October
    1917, the Bolsheviks led by V. I. Lenin seized power and, in January 1918, the
    Council of People’s Commissars announced the severance of diplomatic relations
    with Romania, the arrest of the Romanian minister in Petrograd and the confiscation
    of Romania’s treasure deposited in Moscow. The current reserve of the Central
    Bank is only slightly larger than the Romanian gold in Moscow, namely 103.6
    tons, at an estimated value of 5.6 billion euros. (MI)

  • February 8, 2019

    February 8, 2019

    BUDGET – Romanias 2019 draft budget is presented for adoption in Government session today, the Finance Minister Eugen Teodorovici has announced. He has stated that the document provides for significantly more money for investments, health-care and education. Also, the draft budget stipulates the allocation of 2% of the GDP for defence, in keeping with Romanias commitment to its partners in the North-Atlantic Alliance. Also, the necessary funds are secured for increasing pensions by 15%, as of September this year, as well as significant budgets for the local administration. The draft budget, criticized by the right-wing opposition, was built on an estimated 5.5% economic growth rate, an inflation rate of 2.8% and a deficit of 2.5% of the GDP.



    JHA – An informal meeting of the Justice and Home Affairs Council continues in Bucharest, focusing on justice. Todays agenda includes topics such as means of boosting judicial cooperation in civil and commercial matters and obtaining electronic evidence in criminal cases. The talks are chaired by the Romanian Justice Minister Tudorel Toader, who has announced that another topic of discussion is the functioning of the European Public Prosecutors Office. Competing for the position of head of this office are three candidates, including the former head of the Romanian National Anticorruption Directorate, Laura Codruta Kovesi. On Thursday, the participants approached the issues of terrorism, police cooperation, the Schengen Area and migration.



    VENEZUELA – Romanias President Klaus Iohannis has decided to recognize Juan Guaido as interim president of Venezuela, the Presidential Administration announced on Friday. Klaus Iohannis believes that, as Romania is currently holding the Presidency of the EU Council and against the background of an increasing dynamics of international developments, Romania must have fast and well-grounded reactions with regard to foreign policy issues, in keeping with the main priorities it has constantly related to on long term. The US, Canada and most countries in the EU and Latin America have voiced support for Guaido. On Saturday, at a UN Security Council meeting, President Nicolas Maduro was supported by China and Russia. Maduro has rejected the calls for new elections made by the US, Canada, the EU and the Latin American countries.



    CORRUPTION – Radu Mazare, the former mayor of the Romanian Black Sea Port of Constanta, has received a final 9 year prison sentence issued by the High Court of Cassation and Justice, in a case involving illegal return and assignment of plots of land in the vicinity of beach areas in the county. Mazare will not serve his sentence, though, as he has fled to Madagascar. The former Social Democratic president of the Constanta County Council, Nicusor Constantinescu, and the former financier of the Dinamo Football Club, Cristian Borcea, have also received sentences in the same case. According to investigators, states assets were illegally deprived of large plots of land, worth some 114 million Euros.



    CENTRAL BANK – On February 12th, the board of the Romanian Central Bank will be heard in Parliament, the Central Bank Governor Mugur Isarescu has announced. He has stated that the Senates Budget and Finance Committee had sent the invitation some time ago, but the meeting could not be held, as there were points that needed clarification. Mugur Isarescu also declined an invitation to a hearing on Thursday, as it overlapped with the Boards meeting on monetary policy.



    DEVESELU – The Russian Defense Ministry has urged the US to destroy the anti-missile shield in Romania, claiming the system violates the Intermediate-range Nuclear Forces (INF) treaty. The request was made after both the US and Russia announced their withdrawal from the treaty signed in 1987. In response, the Romanian Foreign Minister Teodor Melescanu has stated that the facility in Deveselu, in southern Romania, is purely defensive, and allegations that the base might be used to launch nuclear missiles are used by Russia to justify its own intention of building missiles that do not observe the INF treaty. In turn, US officials have stated that the US Administration has no intention of providing Europe with nuclear weapons, even if a potential termination of the INF treaty would allow it to develop new missiles.



    FLU – The number of people who have succumbed to the flu in Romania has reached 95, according to the latest information provided by the National Centre for Surveillance and Control of Communicable Diseases. The victims had all suffered from other diseases and had not been vaccinated against the virus. So far, some 1.3 million Romanians have got the anti-flu shot and the Health Ministry has purchased another 30,000 shots for people at risk: patients with chronic diseases, pregnant women, children and elderly. Flu epidemic has been declared in Romania after the country registered three consecutive weeks of epidemic nature and the flu death toll increased.