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Warning for Cioloş: Billions of euros are at stake

23 Ian 2016   •   17:16
Warning for Cioloş: Billions of euros are at stake 114

The loss of European money will have a serious impact on the development of Romania, warns Dan Voiculescu.

Funds from the European Union are not a fad, but a chance for Romania to enter the civilized world head up, says Professor Voiculescu in one of his books.

If absorption of European funds is below 50%, Romania will be applied a flat rate of 25%, which could even get to 5% , if the government manages to attract up to 65% of the funds, says Dan Voiculescu.

"Reducing the co-financing of projects from European funds or loss of funding will have a direct impact on the development of Romania. I have always said and I reiterate: Europe's money is not a fad, but Romania's chance to go head high in the civilized world " Dan Voiculescu wrote on his blog.

Dan Voiculescu makes a direct link between the success of accessing and managing European funds and the economic future of Romania, warning in one of his books that the next 4 years are decisive.

"The 2014-2020 programming period has a level of financial correction applied by the Commission in the form of a flat rate determined by dividing the average final success rate for all achievement output indicators and all the key implementing phases of a performance framework, and the final success rate of the financial indicator of the respective performance framework”, Dan Voiculescu said.

European grant money are key to the development of Romania over the next 10 years, said Professor Voiculescu late last year.

The information was presented Friday during the 100 minutes show, on Antena 3.
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