ING: Romania has 70% chances for 2007

Romania stands at least 70% chances to be welcomed in the European Union in 2007, which deadline it will make unless major political crises or economic disasters occur, ING Bank Romania’s deputy general manager Misu Negritoiu on Wednesday said, citing a survey drafted by the Dutch financial group. “Only processes completely out of control, political crises or economic disasters could call into question Romania’s accession in 2007-2008,” Negritoiu said. Attending the “Romanian Readiness for the EU” Conference, the ING official maintained that the application of reforms in the energy sector, such as the privatisation of Petrom, of the natural gas distribution and of the utilities, would allow Romania to get the functional market economy status this year. At the same time, the negotiations are likely to be concluded by yearend or in early 2005 at the latest. ZF