Traian Basescu at the end of the Summer European Council: The economic crisis is consistent throughout the EU. I did not meet executives to say "we passed the climax"

„The economic crisis is consistent throughout the EU. I have not seen executives to declare „we passed the climax” Romanian incumbent President Traian Basescu. Basescu informed that Jose Manuel Barroso’s candidacy for the role of the EC president is unanimously supported.

Most important statements made by Traian Basescu:

• We will not tackle all the Council’s conclusions, but the ones that interest us.

• The European Council supports unanimously Jose Manuel Barroso candidacy for a new mandate at the European Commission presidency. The socialist and liberal state or Government chiefs had the same position regarding the issue, which leads me to believe that it will be easy to have a majority.

• There will be two new authorities: the European Committee for Systemic Risks, which will monitor the European financial – bank system, having also the mission to emit risks alerts based on its analysis and to make recommendations, so that a difficult situation will be avoided; and the European System for Financial Supervision – a system that will monitor even the national monitors and the rating agencies. At last, the rating agencies have a monitoring authority, too.

• The discussions on the economic crisis in the EU were of maximum importance. I can tell you I haven’t met executives that could say „we passed the climax”. All top politicians are focused on the crisis’ evolution and determined to continue to adopt measures to save as many jobs as possible.

• The most interesting aspect for us is that the council has concluded for the EC to present a strategy for the Danube by the end of 2010. I would say it is a success of our last years’ efforts to make the Danube part of the European Council’s objective. We were supported by other river states as well, but we’re glad we took this decision.

Most important aspects made by PM Emil Boc:

• Today we saw a decisive step for the adoption of the Lisbon Treaty. By this I mean that the guarantees package for Ireland was adopted, in the context that the country will see a referendum in October, and we hope by this that the ratification of the Lisbon Treaty is finalised and will come into force this year.

• Regarding the monitoring issue, I would add to what the President said the Council’s conclusion feature a line that tries to end not only the problem of the rating agencies and financial institutions, but it reads: „The Council invites the member states to take rapid measures regarding the ruling staff remuneration and the financial sector remunerations, taking into account the Commission’s recommendations” – this is for dissolving the existent abuses in the financial sector.