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Daianu (BNR): Switchover to euro entails serious reforms; mobilising domestic resources, important

Switching over to the euro entails serious reforms, while Romania should not count on European funds exclusively, but it should consider mobilising its domestic resources as well, member on the Administration Board of the National Bank of Romania (BNR) Daniel Daianu told a debate on Monday called "Post-2020 multiannual financial framework, a response for EU's future" held in Bucharest by the European Institute in Romania.

"Analyses show resource dynamics, the movement of resources inside the European Union, favours to a great extent and quite often, the richer, more advanced member states. We have to debunk myths working against us. Switching over to the euro entails serious reforms. We should not count on European funds exclusively, but we should count on our resources, mobilise them and better use the money. We need a country strategy, in which the structural and cohesion funds play a major part, but in the end they do not make the difference; mobilising domestic resources and our success with building our countries do," said Daianu.

He went on to say that border protection, intelligence, science and technology, defence and foreign policy are European public goods in need of more funding.

"For these European goods we have to fight ourselves and we will have to do more than just coming up with sympathy statements; we have to get our resources engaged as well. Sao, we have to take a look at our national budget with so small resources and we have to fight for a public national budget of Romania with more resources. Let us not just fight for grants only, because such fight generates tax revenues that are currently very small. Romania is lagging behind in the EU," added Daianu.

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