Author(s): European Commission
Following Romania’s request on 4 July 2013 for a third balance-of-payments programme, and the Commission’s preliminary assessment, the EU’s Economic and Financial Committee agreed on the opening of negotiations in its meeting on 9 July 2013. The ensuing staff mission (17-31 July) reviewed the macro framework, agreed on the mid-year budget adjustment, and negotiated the conditions for, and the modalities of a new programme.
Agreement was reached on a 2-year programme providing precautionary support of up to 4 billion euros (equally split between the EU and the IMF). The Economic and Financial Committee (EFC) agreed on the content and modalities of a new programme on 3 October and the EU's Council of Ministers approved the decisions underlying a programme on 22 October.
|ISBN 978-92-79-31391-2 (online)|
|doi: 10.2765/28824 (online)|
Occasional Papers are written by the staff of the Directorate-General for Economic and Financial Affairs, or by experts working in association with them. The Papers are intended to increase awareness of the technical work being done by staff and cover a wide spectrum of subjects. Views expressed in unofficial documents do not necessarily reflect the official views of the European Commission.