Valdis Dombrovskis

A plan to boost European Union powers to curb the flow of dirty money through banks faced resistance at an EU meeting from member states recently hit by major money-laundering and financial fraud scandals, three officials told Reuters.

The European Commission has recommended Romania to pursue fiscal policies in line with the Council's recommendation of 3 April 2020 that Romania should put an end to the present excessive deficit situation by 2022 at the latest, according to the recommendations in the European Semester Spring package released on Wednesday.

The European Commission will present a pandemic recovery plan next week that will exceed 1 trillion euros in a mix of grants and loans, Executive Vice President Valdis Dombrovskis said on Tuesday.

Dombrovskis, speaking after a meeting of EU finance ministers, welcomed a proposal by France and Germany for a 500 billion euro fund to disburse grants to worst-hit regions and sectors.

Greece passed the test of the fifth post-bailout assessment on Wednesday as the European Commission hailed the country's progress on reforms and its fiscal position, although concerns remain on the nonperforming loans front.

"The sustained growth of GDP for years, the financial stability, the discipline of Bulgaria is highly appreciated by the European Commission." Prime Minister Boyko Borissov, who is Brussels for the negotiations on the financial framework of the European Union, said.

Bulgaria is likely to join the ERM II currency mechanism a few months later than the announced deadline of the end of April. This was what European Commission Executive Vice President Valdis Dombrovskis said in an interview with the BNR.

The Commission presented a Communication on building a strong social Europe for just transitions. It sets out how social policy will help deliver on the challenges and opportunities of today, proposing action at EU level for the months to come, and seeking feedback on further action at all levels in the area of employment and social rights.

AGERPRES special correspondent Dana Piciu reports: Prime Minister Ludovic Orban stated on Wednesday that at the European Parliament level all the representatives of Romania, regardless of the party they belong to, should have a very close dialogue and they should coordinate their standpoints in order to support the country's interests.

Prime Minister Ludovic Orban continues his three-day visit to Brussels on Wednesday. Prime Minister Ludovic Orban is meeting on Wednesday with European Parliament President David Sassoli and afterwards the two officials are to hold a joint press conference.

Prime Minister Ludovic Orban is paying a working visit to Brussels, Tuesday through Thursday, and will meet European and NATO officials.