Mugur Isarescu, confirmed for 5th term at the helm of BNR

Mugur Isarescu received the Parliament’s stamp of approval on Monday for his 5th term in charge of Romania’s Central bank. Isarescu will lead the institution for another 5 years, after already serving as governor for the last 24.

The official thanked the united Parliament commissions on Budget and Finance-Banks for their vote of confidence and for their work during a period of economic crisis. One of the Central Bank’s main objectives in the near future will be contributing to adopting the euro in 2019 which the governor described as an “ambitious but achievable goal”, writes Mediafax.

The commissions also approved Liviu Voinea (PSD-UNPR-PC), Bogdan Olteanu (PNL) and Florin Georgescu (PSD-UNPR-PC) for the positions of deputy governors as part of BNR’s board of directors. Georgescu is first deputy governor.

BNR’s new board will include in non-executive positions Gheorghe Gherghina (PSD), Virgil Steoenescu (PDL), Daniel Daianu (PSD), Agnes Nagy (UDMR), Dinu Marin (PC).

After the specialised commissions had their say, the Parliament voted. The board of directors passed the vote with the following tallies.

Governor Mugur Isarescu: 377 votes “for” and 9 “against”;

Florin Georgescu, for the position of first deputy governor 377 votes “for” and 9 “against”;

Bogdan Olteanu, for the position of deputy governor: 375 votes “for” and 11 “against”;

Liviu Voinea, for the position of deputy governor: 372 votes “for” and 14 “against”;

For the position of member on the Board: Dinu Marin – 375 votes “for” and 11 “against”; Daniel Daianu – 375 votes “for” and 11 “against”; Gheorghe Gherghina – 373 votes “for” and 13 “against”, Nagy Agnes – 376 votes “for” and 10 “against”; Virgil Stoenescu – 377 votes “for” and 9 “against”.

On Monday it was announced that both Cristian Popa and Nicolae Danila, candidates for the positions of board members, were no longer supported by PSD-UNPR-PC, after applying for the positions on Friday.

Prime-minister Victor Ponta announced that his party will support four names

“For BNR’s board we will support Florin Georgescu for the position of first deputy governor, Liviu Voinea – deputy governor and board members: Daniel Daianu and Gheorghe Gherghina. These are our four proposals”, Ponta said.

The National Bank of Romania is run by the Board of Directors, which is made up of nine members appointed by Parliament for a 5-year mandate that may be renewed. Members of the Board may not be members of Parliament and according to the law, they may not be Court officials or public servants.

Out of the nine members, four members are senior executives of the NBR, i.e. the Governor, the first deputy governor, and two deputy governors. The other five members of the Board are not on the payroll of the NBR. The chairman of the Board is the Governor of the NBR.

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