The joint session of the two chambers of the Romanian parliament approved, on October 1, the management structures of the National Bank of Romania (BNR) as well as those of the Financial Supervision Authority (ASF) and the National Broadcasting Council (CNA), according to Bursa.

BNR Governor Mugur Isarescu (75) remained in his seat after more than three decades — he was 41 when first appointed. However, he spoke of passing monetary decision-making on to younger generations.

"As the current board of directors and the proposals in front of you [for a new board] look, it is clear that we are witnessing a transition of the management of monetary and macroeconomic policy in Romania from the older generation that I stand for, to younger generations,” Isarescu told lawmakers.

But Isarescu also stressed the importance of continuity. "A certain continuity is necessary, and I stand for this continuity, as well as [vice-governor Florin] Georgescu,” Isarescu stated.

At the top level, the younger generation is represented by Leonardo Badea, who is taking over the position of first vice-governor, replacing Georgescu, who keeps a vice-governor seat, and presidential adviser Cosmin Marinescu.

As for the non-executive positions, Aura Socol, a professor at ASE and the wife of Cristian Socol, an economic adviser to Prime Minister Marcel Ciolacu, obtained a position on the lists of the senior ruling Social Democratic Party (PSD).

From the junior ruling National Liberal Party (PNL), Alexandru Nazare, former minister of finance supported by President Klaus Iohannis, is among the new members, along with Roberta Anastase, a last-minute nomination that prompted surprise.

Anastase, backed by the PSD and a sociologist by profession, was one of the leaders of former president Traian Basescu’s Liberal Democratic Party, also holding the position of president of the Chamber of Deputies, parliamentarian and MEP.

Also among the nine members of the BNR management team, as voted on by lawmakers, are Csaba Balint, backed by the Democratic Alliance of Hungarians in Romania (UDMR), a former macroeconomic analyst. There is also Cristian Popa, backed by opposition party Union Save Romanian (USR), former director of investments.

USR criticised the hearings of the nominations for the ASF as a “mockery”, but did not comment on the new BNR board members.