Romanian govt to seek another three more months for fixing restitution issue.

By bne IntelliNews March 21, 2013
Romania will ask the European Convention on Human Rights (ECHR) for another three months to tackle the property restitution issue, PM Victor Ponta announced, as quoted by Ziarul Financiar daily. Currently, the legislation drafted by the government is facing the opposition of the restitution recipients' association. In principle, the government wants to make in-kind restitution until 2016 and start cash restitution as of 2017 for a period of ten years. Romania has already allocated some EUR 8bn to compensate the victims of the communist nationalisation under various forms - in cash or in-kind, in the past years since the fall of the communism. If approved, this would be the second postponement after the ECHR granted a nine-month delay that expires on April 12, 2013. Initially, the ECHR warned Romania on the issue in October 2010 and gave it an 18-month period to fix the problem. As required by the ECHR, Romania's government has to clarify the property restitution legislation applicable to victims of communist nationalisation, otherwise the court would approve the claims of the Romania citizens by default on the grounds of inadequate legislation. Properties roughly estimates at EUR 10bn are at stake - half of which claimed by the church.

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