EU funds to support Romania's economic growth of 2.5 percent in 2013, says President Basescu

Romanian President Traian Basescu said during an official meeting with the President of the European Parliament, Martin Schulz, the domestic economy may grow next year by 2.5 percent of GDP, based on the absorption of EU funds.

President Martin Schulz also spoke on Wednesday in the Parliament, as part of his first official visit in Romania.

For this year, the government revised down the economic output to 1 percent of GDP, while the EBRD put it at 0.5 percent in its latest estimate. Economists at BCR, the largest bank in Romania, said the economy will grow by 0.7 percent due to a poor agricultural harvest and the Euro zone woes.

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FT.com - Chaos in Romania: Romanian president in fresh controversy - by Christopher Condon

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Chaos in Romania: Romanian president in fresh controversy - - by Christopher Condon

Even as he overcame a weekend referendum seeking to remove him from office, Traian Basescu, Romania’s president, strode into fresh controversy on Saturday after a confrontation with a journalist that allegedly involved racist remarks. In an incident that underlined critics’ claims that Mr Basescu’s explosive temperament makes him a divisive figure, the populist politician seized a mobile telephone being used by a reporter to record an interview with him as he was shopping with his wife.

Mr Basescu then left apparently unaware that the phone was still recording his conversation with his wife. After the phone was returned to the reporter’s television station, the recording revealed that Mr Basescu had called the journalist a “stinking Gypsy”.

EarthTimes.org: Romania political row worries EU officials

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Romania political row worries EU officials

The European Commission is concerned about Romania's political instability that is slowing down judiciary and anti-corruption reforms, Brussels media said. Romanian Prime Minister Calin Popescu Tariceanu has fired government ministers who support Romanian President Traian Basescu, thus ending a center-right coalition after months of political disputes between the two men that has nearly paralyzed the country, the EU Observer said Tuesday.