cenreal bank

The European Central Bank Monday rebuked Romania for the second time in two months over plans to trim payrolls at the central bank, saying that a proposed amendment to leave the slashed funds at the bank’s disposal is still in direct violation of the central bank independence principle.

The 25% salary slash included in the Romanian Government's spending cut plan will also affect the employees of the country’s central bank, the National Securities Commission, private pension fund regulator CSSPP and insurance regulator CSA.