President rejects EU banking supervision body

"Romania's constitution and legislation establish the National Bank (BNR) as the structure responsible with handling the national banking system. We do not need a tutor," Basescu said before leaving to Brussels, where he is to attend an European Council meeting. 

The president said the meeting's agenda will focus on financial and economic issues. Romania plans to emphasize structural reforms to insure economic growth in the EU and will ask for financial banking institutions transparency. Bucharest supports "a formula to ban toxic banking products," Basescu said. (NewsIn)