Fin Min Teodorovici admits no opinion received from ECB on GEO 114, expects positive one

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Finance Minister Eugen Teodorovici has admitted on Friday he received no opinion from the European Central Bank (ECB) regarding the tax on banking assets provided by the emergency ordinance 114, but believes he will receive a positive one.

He denies having said he has the ECB opinion, but only saying he has informed the bank, although the recordings show different, ziare.com informs.

“On the set of proposals there is the acceptance opinion from the National Bank of Romania. We’ve started to consult the market players – Romanian Banking Association. The European Central Bank has been informed. I’ve seen there’s been talk in the public space. It did not issue an opinion,” Teodorovici said on Friday.

“I said I’ve informed the ECB, but as Government we do not want to tax the banks, given the BNR opinion, the Government has decided to issue the emergency ordinance. We know that the opinion from the European Central Bank will be favourable,” Teodorovici added.

Finance Minister Eugen Teodorovici said on Wednesday that the draft to amend GEO 114 has received the opinions of the National Bank of Romania and from the European Central Bank.

“Yesterday (Tuesday, March 26 – our note) we received the answer from the European Central Bank, a positive opinion on the draft,” Teodorovici said by phone for Digi 24 TV private broadcaster.

His statements were contradicted by sources close to the ECB.

The European Central Bank (ECB) did not send to the Finance Ministry any opinion regarding the draft ordinance ‘amending’ GEO 114/2018, sources close to the issue have told hotnews.ro on Thursday.

Romanian officials requested, in the letter which included the new draft ordinance (written in Romanian language), that they should receive a reply by Wednesday.

The source argues that there is no release posted on the ECB website and hence no opinion has been released.

The ECB representative seemed disturbed by the 3-day deadline from the Romanian officials, adding that such opinions need – besides the translation of the document – analyses that can go beyond the ‘generously’ mentioned deadline from the Finance Ministry.

“We do not answer to anyone’s orders. We will release our viewpoint after carefully analyzing the draft we received,” the sources said, according to hotnews.ro.

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