Law on gold repatriation – constitutional

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The law on repatriation of the National Bank of Romania’s gold is constitutional. CCR judges have rejected on Wednesday the Opposition’s referral. The normative act is to go to President Klaus Iohannis, who will decide whether or not to promulgate the law.

The project provides for the repatriation of 91.5% of the gold currently in the Bank of England, i.e. over 55 tons of gold, digi24.ro reports.

According to Digi24 TV private broadcaster sources, the CCR judges rejected the referral on grounds of opportunity, because the gold reserve is the property of the Romanian state, so the state is free to decide on the storage of this property.

The CCR has thus rejected the notification of the National Liberal Party and the Save the Romania Union (USR).

Former Chamber of Deputies Speaker Liviu Dragnea and PSD Senator Serban Nicolae filed on February 28 a draft whereby BNR should repatriate 91.5% of the gold deposited by Romania abroad, i.e.56 tons of gold.

The draft provides that the gold reserves kept abroad cannot exceed 5% of the overall gold quantity representing the reserve.

The reasoning reads that the draft aims this amendment as the Romanian economy is in positive parameters, a trend estimated to continue.

 

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