Mircea Geoana says EU loan agreement will be signed on Monday

The loan agreement between Romania and the European Union (EU) will be signed on Monday and, if the convened timetable is observed, the first money installment would be delivered to Romania in the second half of July – announced on Thursday, in Brussels, Senate’s Chairman Mircea Geoana at the end of his meeting with the European Commissioner for economic and monetary affairs Joaquin Almunia.

„The situation is complicated following the difficulties met by Latvia, country in dire need of aid. The commission decided to „go” on the market in order to lend money for all the countries in the zone, confronted with problems”, said Geoana.

During his meeting with Almunia, the Romanian official voiced concern as for the too slow manner Romanian economy reacts to the European anti-crisis measure package.

He called on the European Commission (EC) and the EU in general to adopt a set of added measures, apart of the few billion euros loan, in order to secure the lending re-launch in economy and to avoid the bankruptcy of small and medium-sized enterprises, as well as to give an impetus to the Romanian economy re¬launch.

On the other hand, Mircea Geoana said that Joaquin Alumunia proposed the elimination of compulsoriness in the field of co-financing the social projects at European level, run through the European Social Fund, respectively the creation of new jobs and professional re-conversion.

Romania and all the other EU member states are to benefit of this facility.

Another discussed topic with European Commissioner Almunia referred to the banking system.

„Beyond the convened understanding related to the parent banks and their branches in Romania we must intensify the dialogue with banks and I do not think that through warlike declarations we will determine a confidence bolstering in the Romanian economy”, but following the economic measures the banks could re-launch lending activities in Romania, so that the economy will overcome the crisis, the Senate’s Chairman also said.

As regards the excessive deficit procedure, launched by EC in the case of Romania, Joaquin Almunia proposed that, alongside the standard procedure, elements from the loan agreement convened with the EU should be introduced, concluded the Romanian official.

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