{"id":443199,"date":"2016-12-28T12:13:05","date_gmt":"2016-12-28T12:13:05","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=443199"},"modified":"2016-12-29T15:12:17","modified_gmt":"2016-12-29T15:12:17","slug":"igor-dodon-initiates-draft-law-cancel-payment-135-billion-lei-national-bank","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/igor-dodon-initiates-draft-law-cancel-payment-135-billion-lei-national-bank\/","title":{"rendered":"Igor Dodon signs a draft law to cancel payment of 13,5 billion lei to the National Bank for the &#8220;stolen billion&#8221;"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p>On December 28th, Moldova&#8217;s President Igor Dodon signed a legislative initiative on cancelling the law on the state obligations issued in November 2014 and April 2015 for the payment to the National Bank of Moldova of loans unpaid back by the three failed banks: Banca de Economii, Banca Social\u0103, Unibank.<\/p>\n<p>According to Dodon, the measure of reimbursing the &#8220;stolen billions&#8221; from the banking sector is putting a burden on the shoulders of the citizens. Dodon reiterates his position that the stolen billions should be paid back by those who participated in the frauds, voted for or knew about them, but preferred to keep silent, the state officials and those responsible from financial-banking institutions.<\/p>\n<p>In his decree, Dodon wants the Parliament to examine his initiative and cancel the law on the billion payment. Moreover, the new President thinks that there are other measures in this context, stressing that he is &#8220;against the payment from the accounts of the current and future generations&#8221;.<\/p>\n<p><code><iframe style=\"border: none; overflow: hidden;\" src=\"https:\/\/www.facebook.com\/plugins\/post.php?href=https%3A%2F%2Fwww.facebook.com%2Fdodon.igor1%2Fposts%2F1787716828135870&amp;width=500\" width=\"500\" height=\"765\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/code><\/p>\n<p>The controversial law, previously voted by <a href=\"http:\/\/www.moldova.org\/en\/government-moldova-pay-135-billion-lei-national-bank-unpaid-loans-three-failed-banks\/\" target=\"_blank\">the Government<\/a> and approved by <a href=\"http:\/\/www.moldova.org\/en\/acting-president-nicolae-timofti-approved-new-banking-budget-laws-including-135-billion-lei-payment\/\" target=\"_blank\">ex-President Timofti<\/a>, includes a decision to transform the unpaid loans taken by Banca de Economii, Banca Social\u0103 and Unibank from the National Bank in 2014 into public debt. The payment of 13,5 billion lei would be made from the state budget during 25 years with a 5% interest rate, a sum which will obviously decrease the public expenditures in social and medical insurances system.<\/p>\n<p>The international financial institutions, such as the International Monetary Fund, the World Bank, but also the European Union, saw the law as a mean to &#8220;restore&#8221; trust of people in the banking system.<br \/>\nNevertheless, it still remains unclear why the Government has to transfer the money to the National Bank, a state institution, for some loans unpaid by private banks.<\/p>\n<p>Previously, Dodon, as a deputy, <a href=\"http:\/\/www.moldova.org\/en\/socialists-moldova-attack-treatment-censure-motion-7-banking-laws-constitutional-court\/\" target=\"_blank\">attacked the approval of the law<\/a> at the Constitutional Court.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>On December 28th, Moldova&#8217;s President Igor Dodon signed a legislative initiative on cancelling the law on the state obligations issued in November 2014 and April 2015 for the payment to the National Bank of Moldova of loans unpaid back by the three failed banks: Banca de Economii, Banca Social\u0103, Unibank. According to Dodon, the measure [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":443200,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-443199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"content_social_share":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p>On December 28th, Moldova&#8217;s President Igor Dodon signed a legislative initiative on cancelling the law on the state obligations issued in November 2014 and April 2015 for the payment to the National Bank of Moldova of loans unpaid back by the three failed banks: Banca de Economii, Banca Social\u0103, Unibank.<\/p>\n<p>According to Dodon, the measure of reimbursing the &#8220;stolen billions&#8221; from the banking sector is putting a burden on the shoulders of the citizens. Dodon reiterates his position that the stolen billions should be paid back by those who participated in the frauds, voted for or knew about them, but preferred to keep silent, the state officials and those responsible from financial-banking institutions.<\/p>\n<p>In his decree, Dodon wants the Parliament to examine his initiative and cancel the law on the billion payment. Moreover, the new President thinks that there are other measures in this context, stressing that he is &#8220;against the payment from the accounts of the current and future generations&#8221;.<\/p>\n<p><code><iframe style=\"border: none; overflow: hidden;\" src=\"https:\/\/www.facebook.com\/plugins\/post.php?href=https%3A%2F%2Fwww.facebook.com%2Fdodon.igor1%2Fposts%2F1787716828135870&amp;width=500\" width=\"500\" height=\"765\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/code><\/p>\n<p>The controversial law, previously voted by <a href=\"http:\/\/www.moldova.org\/en\/government-moldova-pay-135-billion-lei-national-bank-unpaid-loans-three-failed-banks\/\" target=\"_blank\">the Government<\/a> and approved by <a href=\"http:\/\/www.moldova.org\/en\/acting-president-nicolae-timofti-approved-new-banking-budget-laws-including-135-billion-lei-payment\/\" target=\"_blank\">ex-President Timofti<\/a>, includes a decision to transform the unpaid loans taken by Banca de Economii, Banca Social\u0103 and Unibank from the National Bank in 2014 into public debt. The payment of 13,5 billion lei would be made from the state budget during 25 years with a 5% interest rate, a sum which will obviously decrease the public expenditures in social and medical insurances system.<\/p>\n<p>The international financial institutions, such as the International Monetary Fund, the World Bank, but also the European Union, saw the law as a mean to &#8220;restore&#8221; trust of people in the banking system.<br \/>\nNevertheless, it still remains unclear why the Government has to transfer the money to the National Bank, a state institution, for some loans unpaid by private banks.<\/p>\n<p>Previously, Dodon, as a deputy, <a href=\"http:\/\/www.moldova.org\/en\/socialists-moldova-attack-treatment-censure-motion-7-banking-laws-constitutional-court\/\" target=\"_blank\">attacked the approval of the law<\/a> at the Constitutional Court.<\/p>\n<div class='heateorSssClear'><\/div><div  class='heateor_sss_sharing_container heateor_sss_horizontal_sharing' 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href=\"https:\/\/www.moldova.org\/en\/igor-dodon-initiates-draft-law-cancel-payment-135-billion-lei-national-bank\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cristi Vlas\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/igor-dodon-initiates-draft-law-cancel-payment-135-billion-lei-national-bank\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/igor-dodon-initiates-draft-law-cancel-payment-135-billion-lei-national-bank\\\/\"},\"author\":{\"name\":\"Cristi Vlas\",\"@id\":\"https:\\\/\\\/www.moldova.org\\\/en\\\/#\\\/schema\\\/person\\\/dcbd06b375a29cab9233deffe7826a9f\"},\"headline\":\"Igor Dodon signs a draft law to 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