Money makes the world go round and political parties too. Political parties are not founded solely on ideas, doctrines, values and principles. They also need money, say malicious commentators, who are convinced that the main goal of those who choose to go into politics, at least in Romania, is to make a fortune. The Romanian Parliament has eventually tried to make things clear in terms of funding for political parties and election campaigns. This was long called for, given that all these years there have been suspicions in terms of political parties receiving big sums of money from businesspeople, who, in exchange, expected politicians to favour them and help them get lucrative contracts with the Romanian state. This vicious mechanism has been exposed by the radical anti-corruption campaign of the past years, but only strict laws can do away with these practices. <\/p>\n
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On Saturday President Klaus Iohannis endorsed the law that amends and completes the old law on funding political parties and election campaigns. The Romanian President had asked Parliament to revise the bill, which the MPs eventually did, thus eliminating possibilities for illegal funding. <\/p>\n
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According to an amendment made by the Joint Commission of the Chamber of Deputies and the Senate, political parties can take out loans only based on authenticated notarized documents. The contract must stipulate the manner and deadline for returning the borrowed amounts, and the deadline cannot exceed three years. Also, money loans and repayments can only be made by bank transfers, and the amount that has not been returned by the deadline stipulated in the contract shall be considered a donation. <\/p>\n
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The Romanian President has also asked Parliament to clarify the rules regulating the loans granted to political parties by individuals or legal entities, donations and the control of funding, as well as to clarify certain provisions that threatened to jeopardise the principle of political pluralism. The joint effort of the Parliament and President has eventually led to a clearer, if not better law regarding the funding of political parties. Sceptics however claim that those accustomed to go around the law will carry on their illegal practices and the lack of transparency in this sector will remain the rule and not the exception. <\/p>\n
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President Klaus Iohannis promulgated the Law on funding political parties.<\/p>\n","protected":false},"author":110,"featured_media":63876,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37738],"tags":[38076,29721,38075],"coauthors":[],"class_list":["post-63875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-the-news","tag-election-campaign-funding","tag-law","tag-political-party-funding"],"acf":[],"yoast_head":"\n