INSOLVENCY OF THE TERRITORIAL ADMINISTRATIVE UNITS IN ROMANIA
INSOLVENCY OF THE TERRITORIAL ADMINISTRATIVE UNITS IN ROMANIA

Summary/Abstract: The insolvency of the territorial administrative units is a recent concern of the Romanian Parliament; the normative act concerning that subject has been passed in year 2013. It entered in force as consequence of the pressure of the International Monetary Fund, which imposed a series of conditions to Romania in view of concluding a new Framework Agreement. That law stands out given its incoherence and certain aspects that will lead to implementation difficulties. Beginning with the model of Law no. 85/ 2006, a possibility of restructuring the territorial administrative units that face financial difficulties was created.

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