Romanian PM Needs Parliament Mandate To Negotiate With IMF – Senate President

Romanian Senate president Mircea Geoana said Monday that he will write to Prime Minister Emil Boc and ask him to request the Parliament's mandate before negotiating with the IMF, World Bank and European Commission.

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Geoana argued that it makes no sense for the Government to negotiate with foreign institutions without a mandate from the legislature; he pointed out that the European Council postponed a session to allow German Chancellor Angela Merkel to request the Bundestag's mandate.

The Parliament should not be merely informed after the case about the negotiations, but should play an important part in the decision, said Geoana.

The Senate will also invite central bank governor Mugur Isarescu to inform the Parliament on the banking system's situation.

Geoana said a new "Vienna" agreement would be useful, to have commercial banks renew their pledges not to withdraw reserves, liquidity and profit from their Romanian branches.

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