ECB criticises revised Romanian tax law


The European Central Bank (ECB) has made serious criticisms of the Romanian government’s efforts to revise a controversial tax on banks.

Romania’s government introduced the original law by an emergency decree during the December Christmas holidays. The law levied what supporters called a “greed tax” on banks, which rose according to the level of Romania’s interbank lending rate.

Bank of Romania governor Mugur Isărescu attacked the original emergency decree as “incomprehensible” and a “bomb”

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