Draft bill: Romania to ban foreign denominated prices

The prices in the commercial contracts in general, but mainly those currently expressed in euro (for cars, apartments, telecommunication services) will be expressed, by the law, only in local currency if the initiative inked by the president of the Social Democratic Party (PSD), Liviu Dragnea, passes the Parliament.

Dragnea argued that prices in euro are not fair to customers, Ziarul Financiar reported. He also believes that such a provision would strengthen the local currency.

It is one of the bills with a visible electoral dimension but, unlike less realistic ones, likely to receive at least benevolent review by the central bank, which is also advocating for curbing the currency substitution. Nonetheless, if drafted superficially and not enforced adequately, such a bill could be easily bypassed by special clauses in the contract.

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