Romania’s National Bank (BNR) governor Mugur Isarescu has received formal support from the two main ruling parties (Social Democrats and Liberal Democrats) as well as the largest opposition party, the National Liberal Party (PNL) for a new term, Hotnews.ro reported.

Isarescu, who turns 70 in August, is one of the longest-standing central bank governors in the world, as he has held this position from 1990 until now, with a one-year hiatus in 2000, when he was prime minister and ran for president. His position at the top of the central bank seemed to be shanking at the beginning of this year after he criticized the ruling party’s “greed ordinance” aimed at taxing local banks. However, his two biggest opponents, former PSD leader Liviu Dragnea and PM Viorica Dancila’s former economic advisor Darius Valcov, are now out of the picture.

The president of the Liberal Democrats (ALDE) Calin Popescu Tariceanu confirmed the ruling coalition’s support for Isarescu on Monday, June 24, after talks with PM Viorica Dancila, who is also interim head of the PSD. Tariceanu also announced the structure of the next BNR board, where PSD will appoint four members, ALDE will name one, PNL will have two representatives and Save Romania Union (USR) will have one, according to the distribution of seats in Parliament.

The central bank’s board has nine members, including the governor, who serves as the board’s president, one first deputy governor (vice-president) and seven members of whom 2 are deputy governors, and the other 5 hold non-executive roles. One representative of the ethnic Hungarians (UDMR) might be appointed on the ticket of PSD, depending on arrangements between the parties, Tariceanu added. The liberals are set to nominate their candidate for a post of BNR deputy governor on June 25.

The current board’s mandate expires in October this year, and the Parliament needs to vote a new one by then.

editor@romania-insider.com

(Photo source: Bnr.ro)