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The Romanian government presented a new law on April 17 on the restitution of property confiscated during the communist era (1945-1989), and announced that it is fully committed to the new text, which will be adopted without a debate in parliament.
Under the terms of the law, which has been drafted in response to a demand from the European Court of Human Rights, owners whose property cannot be handed back will receive points that can be used in state auctions that will take place after January 1. Alternatively, the points may also be exchanged for cash at a date after January 1, 2017. The compensation will be paid in installments over a period of seven years.
The business daily worries that this measure could relaunch a new property bubble that has been a feature of the Romanian housing market in recent years.
A conversation with investigative reporters Stefano Valentino and Giorgio Michalopoulos, who have dissected the dark underbelly of green finance for Voxeurop and won several awards for their work.
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