Romania’s President Traian Basescu (in picture) recently said that Romanian experts will take part in drafting the final form of the Fiscal Governance Agreement, approved at last week's EU summit. “I will confirm with Brussels that Romania will have experts to participate in drafting the final form of this agreement,” he said.

The President also added that no parliamentary political party will reject the approval of the European fiscal union agreement. “My conclusion is that all parliamentary parties will support the amendment of the Constitution and the fiscal union agreement,” Traian Basescu said. He met the leaders of main political parties in Romania on Wednesday ( December 14 ) but the opposition alliance in Romania, the Social Liberal Union (USL) rejected changes to the country's Constitution to accommodate the planned European fiscal changes. Countries will have to commit to certain budget deficits, and the EU will review draft national budgets.

The Fiscal Governance Agreement was signed on December 9 despite British Prime Minister David Cameron’s veto on changes to the EU Treaty. At last week’s EU summit all seventeen eurozone countries plus Denmark, Poland, Latvia, Lithuania, Bulgaria and Romania signed the new agreement, which paves the way for closer fiscal union and tighter economic control. Sweden, the Czech Republic and Hungary’s representatives said they would not sign until consulting their parliaments but have since given indications that they may go ahead and join the treaty.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Romanian Presidency)