Rspg20-007 Final

Total Page:16

File Type:pdf, Size:1020Kb

Rspg20-007 Final EUROPEAN COMMISSION DIRECTORATE-GENERAL FOR COMMUNICATIONS NETWORKS, CONTENT AND TECHNOLOGY Electronic Communications Networks and Services Radio Spectrum Policy Group RSPG Secretariat Brussels, 5 February 2020 RSPG20-007 FINAL RADIO SPECTRUM POLICY GROUP 23rd Progress Report of the RSPG Sub-Group on cross-border coordination RSPG Secretariat, Avenue de Beaulieu 33, B-1160, Bruxelles, office BU33 7/55 Telephone: direct line (+32-2)29.21.261, switchboard 299.11.11; Fax: (+32.2)296.83.95 E-mail: [email protected] Web-site: http://www.rspg-spectrum.eu Web-site CIRCABC : https://circabc.europa.eu/w/browse/f5b44016-a8c5-4ef6-a0bf-bc8d357debcb RSPG20-007 FINAL 23rd Progress Report of the RSPG Sub-Group on cross-border coordination The Sub-Group has held one meeting, 21st January in Roma, at the kind invitation of the Italian administration. The list of participants is attached in annex 1. The detailed report of the meeting is attached in annex 2. TV, T-DAB and FM interference around Italy For the details of the interference situation, please refer to the meeting report in annex 2: • For TV interference, there is no more interference to channels in operation in neighbouring countries except with Croatia where some interference remains on 5 channels. All these channels being used by local broadcasters, interference will cease when these Italian broadcaster will switch off, in accordance with the migration plan. • For TDAB interference, AGCOM is requested by law to develop a T-DAB plan fully in line with Italian international rights (GE-06 + coordination agreements). However, this can be done only after successful results of ongoing negotiations which aimed to optimize the GE-06 initial plan taking into account that planning was sometimes based on allotments and on DTV rather than DAB. Once the plan is developed, Italy would be in a position to migrate the existing TDAB transmissions not respecting the international rights to the agreed Italian channels. This will solve the interference to Slovenia and Croatia. In this respect, a meeting for the Adriatic cluster should be envisaged as early as possible (eg, end of February) and all concerned EU countries, including Greece, should send relevant experts to this group in order to be in a position to agree rapidly a new plan. • For FM interference, the sub-group concentrated on the protection of priority channels declared by neighbouring administrations (Croatia, Slovenia, Malta). Technical discussions have highlighted some large differences between propagation models used by administrations. Models fitting the measurement results should be used. It is important to identify a suitable solution for those cases being analyzed. Review of the progress in the implementation of the 700 MHz band within EU Transition issue between Italy and Croatia An Italian Decree is being prepared to enable the advanced switch off in May of local broadcaster and it is expected that local broadcasters would apply for having the financial compensation as early as possible. This would enable to eliminate in May 2020 the channels required by Croatia to ensure the transition of broadcasting below 694 MHz. Italy reported that all the list of the channels that 2 RSPG20-007 FINAL will be switched off in advance in the whole Italian territories will be sent to the good Offices and to neighbouring countries before 30th of March. Update of the information on the progress of implementation of the 700 MHz band The sub-group received updated response to the questionnaire from Italy and Romania. Croatian roadmap has not yet been published and is under consideration by the government. The authorization may be granted before the end of this year but the deadline in the draft roadmap remains 2022. The 700 MHz spectrum will be available in the continental part and the date of availability in the Adriatic part depends on resolving the transition issue described above. In Hungary, the beginning and end of migration will be February and August 2020 respectively. The 700 MHz MFCN authorization procedure has been suspended due to ongoing litigation and it is unclear when the authorization could be granted. The sub-group decided to present to the Plenary updated maps regarding migration of broadcasting and MFCN authorization timing in a separate document. Review of the cross-border negotiation with countries outside EU Romania requested assistance from the EU regarding the availability of the 700 MHz band due to the broadcasting in the 700 MHz band in Ukraine. A letter to the sub-group Chairmen was received from Ukraine clarifying that the plan for migration is 2020 but stressing their difficulties in terms of financing the migration cost evaluated to 4 million dollars for the major broadcaster. Romania has now decided to launch the 700 MHz authorization procedure before 30/06/2020 in spite of the cross- border issue with Ukraine, with a date of entry into force of the authorizations on the 1st January 2021. Information from the Russian Federation is still showing large uncertainties on the migration of DVB- T outside the 700 MHz band. However, there is no important risk of interference from TV to mobile service in the 700 MHz band since there are no Russian TV transmitters in operation in this band at the border and since the plan from Russia is to introduce mobile services in the 700 MHz band. Belarus is preliminary planning the migration in 2021, but has difficulties in terms of financing the cost of migration. Lithuania mentioned additional cross-border coordination difficulties for the 3.4/3.6-3.8 GHz band and the 1427-1518 MHz with the Russian Federation. Only limited progress have been made in formalizing agreements with countries in North Africa. Although there are uncertainties in migration time in Albania, Serbia and Bosnia and Herzegovina, those countries are cooperating well with their neighbouring EU countries. 3 RSPG20-007 FINAL Regarding Turkey, which has ended its broadcasting migration below 694 MHz, the Commission indicated that there is some progress in the territory of Cyprus where the Government of Cyprus is prevented from exercising effective control regarding the freeing of the 700 MHz band. Next meeting The next meeting is planned on 19th May 2020 in Romania. 4 RSPG20-007 FINAL ANNEX 1 List of participants Emilia Ulelay Hungary Verena Hindges Germany Danijel Vidakovic Croatia Eva Spina Italy Donato Margarella Italy Adrian Galea Malta Igor Funa Slovenia Liliana Andrei Romania Dan Constantinescu Romania Mindaugas Zilinskas Lithuania Eric Fournier France Paul Lippens de Cerf CE 5 RSPG20-007 FINAL ANNEX 2 REPORT RSPG SUB-GROUP « GOOD OFFICES » ROMA, 21st JANUARY 2020 1. New EU regulatory framework, RSPG decision and RSPG RoP in relation with the good offices The Commission representative explained the modification of the EU regulatory framework in relation to the good offices, notably the Article 28 of the Code and the consequential revision of the RSPG Decision and of the RSPG rules of procedure (RoP). Based on Article 2(3) of the new RSPG decision and Article 28 of the EEC Code, the article 8 of the RoP (“Cross-Border Coordination and Good Offices”) states that with regards to the availability of harmonised radio spectrum, the Group may issue an opinion to propose a coordinated solution to a problem or dispute between Member States, and the European Commission may adopt a decision upon request by any affected Member State. It is also emphasized that the Code creates an obligation for Member States to respect relevant international agreements, including the ITU Radio Regulations and other agreements adopted in the framework of the ITU applicable to radio spectrum As it appears in response to an action from the September meeting, the decision of the Italian Court of Cassation confirming the legal protection under Italian law to an Italian FM broadcaster authorized in Italy, against interference caused by a Slovenian FM broadcaster authorized in Slovenia and using a Slovenian GE-84 right, might be enforceable in Slovenia in accordance with European rules regarding the recognition and enforcement of judgments. Slovenia and Italy are still discussing to find solutions with the two concerned broadcasters, and it was noted that the situation could possibly ultimately result in an EU legal case. 2. Situation regarding interference around Italy TV interference issues Actual interference from Italy to Croatia Italy is investigating the reduction of interference on all interfered channels : • Channel 21 (65/78 dBµv/m measured interference): the broadcaster applied a reduction of power of 6 dB. Since this is not sufficient, Italy is studying another project. • Channel 39 (59/65 dBµv/m measured interference): The ministry is waiting for a draft project and has recently sent a reminder to the broadcaster 6 RSPG20-007 FINAL • Channel 41 (up to 70 dBµv/m measured interference) : a new project has been implemented during the summer period of 2019 (no details available), Italy asked Croatia new measurements • Channel 45 (53 dBµv/m measured interference) : simulation from Italy did not show interference, the transmitter being outside the coordination area (Campania). No action initiated. The table from the previous meeting was updated: Regione Impianto Allotments Canale Operatore Provincia provenienza presunto interferente Remarks a new project has been Montefalcone D05 39 Video Tolentino MC Marche Sud requested, a reminder has e Colbuccaro been done on 14-1-2020 6dB has been reduced, on 14-1-2020 a new D07 21 TV7 Tele
Recommended publications
  • Central and Eastern Europe Development Outlook After the Coronavirus Pandemic
    CHINA-CEE INSTITUTE CENTRAL AND EASTERN EUROPE DEVELOPMENT OUTLOOK AFTER THE CORONAVIRUS PANDEMIC Editor in Chief: Dr. Chen Xin Published by: China-CEE Institute Nonprofit Ltd. Telephone: +36-1-5858-690 E-mail: [email protected] Webpage: www.china-cee.eu Address: 1052, Budapest, Petőfi Sándor utca 11. Chief Editor: Dr. Chen Xin ISSN: 978-615-6124-29-6 Cover design: PONT co.lab Copyright: China-CEE Institute Nonprofit Ltd. The reproduction of the study or parts of the study are prohibited. The findings of the study may only be cited if the source is acknowledged. Central and Eastern Europe Development Outlook after the Coronavirus Pandemic Chief Editor: Dr. Chen Xin CHINA-CEE INSTITUTE Budapest, October 2020 Content Preface ............................................................................................................ 5 Part I POLITICAL DEVELOPMENT OUTLOOK ..................................... 7 Albanian politics in post-pandemic era: reshuffling influence and preparing for the next elections .............................................................................................. 8 BiH political outlook after the COVID-19 pandemic ...................................... 13 Bulgarian Political Development Outlook in Post-Pandemic Era ..................... 18 Forecast of Croatian Political Events after the COVID-19 .............................. 25 Czech Political Outlook for the Post-Crisis Period .......................................... 30 Estonian political outlook after the pandemic: Are we there yet? ...................
    [Show full text]
  • Download File
    Recommendations for starting a safe school year 2020-2021, while promoting quality inclusive education for all children in Romania The opinions expressed in this document belong to the authors and do not necessarily reflect the position of UNICEF. Executive summary his document was created to support the national, county, and local authorities to plan the beginning of the school year 2020-2021 safely for children and for all the school staff, as well Tas to provide quality inclusive education throughout this unprecedented worldwide situation. The goal was to identify a set of solutions which may help reduce both the impact of the pandemic upon learning, and the gaps in terms of access to education after schools were closed from March to July 2020 in Romania. This material was drafted by a team of 18 principals involved in implementing the ”Quality inclusive education: transition from lower to upper secondary education” model, and by representatives of the county institutions in Bacău, at the initiative and coordinated by UNICEF Romania. The recommendations proposed are based on the three scenarios displayed by the Ministry of Education and Research, as well as on the experience acquired by the education experts from March until July 2020, under the circumstances of the COVID-19 pandemic. The solutions presented also show the outcomes of the consultations organized at a community level on topics such as challenges, vulnerabilities, constraints, and solutions specific to each and every scenario. Special attention was paid to vulnerable students and to those at risk of school drop-out . The considerations and the proposals submitted are equally looking at removing barriers for attending education, supporting learning and guaranteeing well-being for all students, as well as supplying the necessary support for teachers, school staff, and managerial teams, for them to be able to safely provide inclusive contexts and quality education services.
    [Show full text]
  • Lily Charlott Birkholm
    Cand.ling.merc. - Europæiske studier og tysk 77 sider (113 sider inkl. litteraturliste og bilag) / 174.394 anslag Kandidatafhandling 20. august 2015 VIND I ØSTEUROPA En analyse af det rumænske vindenergimarked, og om det er gunstigt for Vestas at etablere en produktionsenhed i Rumænien Lily Charlott Birkholm Vejleder: Lars Abel Osteuropäischer Wind - eine Untersuchung der Expansionsmöglichkeiten für Vestas in Rumänien Rumänien ist eines der Länder der ehemaligen Sowjetunion, das große Anstrengungen unternommen hat, um das Erbe des Kommunismus zu überwinden. Obwohl die Aussicht auf eine EU-Mitgliedschaft zu Reformen anregte, wurde die Aufnahme durch eine träge und undurchsichtige Verwaltung, politische Unruhen und Korruption verzögert. Dies hat sogleich die Bedingungen für die Einwohner und privaten Unternehmen erschwert. Auch im Energie- und Umweltbereich ist Rumänien lange rückständig gewesen und hat deshalb große Probleme mit der Umweltverschmutzung, die hauptsächlich auf die jahrzehntelange Verwendung von Kohle zurückzuführen sind. Aus diesem Grund ist die Nachfrage nach Umwelttechnik in Rumänien in den letzen zehn Jahren gestiegen. Es gibt in Rumänien seit langem ein wachsendes Interesse an der Windindustrie, und dieses hat zu einem großen Windturbinenexport ins Land geführt. Der weltweit operierende dänische Hersteller von Windkraftanlagen, Vestas Wind Systems, hat dort Aufträge erhalten, und dieses sollte weiterverfolgt werden. Aber Vestas befindet sich im starken Wettbewerb mit anderen Produzenten von Windkraftanlagen, die alle
    [Show full text]
  • Bucharest City Report Q2 2020
    City Report Q2 2020 COPYRIGHT © JONES LANG LASALLE IP, INC. 2019 The Bridge, Bucharest Romania during the COVID-19 pandemic 59,273 €223.6 bn. -1.9% COVID-19 cases reported 2020 GDP 2020 Real GDP growth rate as of August 7th April 2020 forecast of the April 2020 forecast of the National Commission for National Commission for Strategy and Prognosis Strategy and Prognosis 102,830 463,000 Furloughed employment Total unemployed contracts July 3rd 2020 May 2020 Macroeconomic overview The COVID-19 crisis continued worldwide during Q2 and Romania made no exception. The economic impact was seen in a drastic reduction of GDP growth prognosis. There are different estimates issued by several institutions (ranging from -6% to 0.3%), all showing decreases from previous estimates, however two showing also a quick recovery in 2021 (3.9% or 4.2%, depending on the source). In April 2020, the National Commission for Strategy and Prognosis forecasted a -1.9% real GDP growth rate for 2020, compared to 4.1% at the beginning of the year. The latest prognosis issued by the World Bank estimated the country’s economic growth for 2020 to -5.7%, from an initial 3.8% at the start of the year. This is to be followed by a 5.4% growth rate in 2021. The International Monetary Fund expects Romania’s real GDP growth rate to fall to -5% in 2020, from 3.5%, as estimated in October 2019. However, the IMF also predicts that a 3.9% economic growth will follow in 2021. The EU Commission’s Summer 2020 Economic Forecast, released in July, estimates for Romania a GDP contraction of -6% in 2020 (from 3.6% in the Autumn forecast), followed by a 4% recovery in 2021.
    [Show full text]
  • EUPAN German Presidency Report 01 July – 31 December 2020
    Berlin, 29 January 2021 EUPAN German Presidency Report 01 July – 31 December 2020 1. Summary The German Presidency in the second semester of 2020 took place under the impression of the ongoing Covid-19 crisis. Regrettably, as was the case already under the Croatian Presidency in the first semester, there could be no physical meetings. Instead of holding a plenary meeting on the Working Level, Working Level colleagues were asked to engage via e-mail. Two Secretariat meetings on both the Working and Directors General Level were held in the virtual sphere. The plenary EUPAN Directors General Meeting took place via videoconference on 17 November 2020. The meeting on 17 November saw the launch of a EUPAN Summer School whose first edition will be organised by Germany in the summer of 2021. Covering the topics of integrity, trust and professionalism, the first EUPAN Summer School will provide exchange, insight and knowledge on prerequisites and circumstances in administrative responsibilities. The Covid-19 pandemic gravely influenced not only the organisational part of the German Presidency, but also its focal points. To further the work and goals of EUPAN in the light of ongoing exceptional circumstances, the German Presidency endeavoured to collect knowledge acquired and experiences made by public administrations in handling the (first wave of the) pandemic. The questionnaire it composed aimed to render different approaches visible and, in the end, comparable. Submissions were collected in August and September of 2020. Most EUPAN partners invested considerable time and effort to describe their administration’s general setup and its adaptation to the challenges of the coronavirus.
    [Show full text]
  • Demography of Europe
    Demography of Europe STATISTICS VISUALISED 2021 edition 1 Demographic statistics are among the most popular data Eurostat produces, and they are important for almost every area of policy. This new interactive publication Demography of Europe produced by Eurostat aims to bring these statistics to a new audience, providing clear visualisations and interactive features to help non-specialist users see what official European statistics can tell us about how the population is developing, ageing, and much more. As Vice-president of the European Commission, Dubravka Šuica, says: “The data presented in this publication will help us analyse the reasons behind the multi-facetted demographic trends across the European Union, because not every Member State is affected in the same way. This publication is another key building block for our demography portfolio, it confirms demography as a catalyst for the development and the success of our policies.” As Commissioner for Economy of the European Commission, Paolo Gentiloni, says: “Demographic change in the European Union is a key policy topic for this Commission. The pandemic has reiterated how important it is that our policies resonate with people and protect them. What distinguishes this new Eurostat publication is its simple and interactive way of bringing information about European demography to our citizens.” Data in this edition of the publication show yearly figures up until 2019 or 2020 and in some cases 1 January 2021. Where applicable, the impact of the COVID-19 crisis is commented on. The publication is divided into four parts: Population structure presents the trend of the total population since the start of the millennium.
    [Show full text]
  • Taking Stock of Regional Democratic Trends in Europe Before and During the COVID-19 Pandemic the Global State of Democracy Special Brief, January 2021 in FOCUS
    Taking Stock of Regional Democratic Trends in Europe Before and During the COVID-19 Pandemic The Global State of Democracy Special Brief, January 2021 IN FOCUS The Global State of Democracy Special Brief, January 2021 Taking Stock of Regional Democratic Trends in Europe Before and During the COVID-19 Pandemic Key facts and findings • The COVID-19 pandemic arrived in a largely the pandemic that are concerning from a democracy democratic Europe. Only 4 countries in the region standpoint. (10 per cent) are not democracies, while many of the democracies are high performing. • The main democratic challenges caused by the pandemic in Europe pertain to the disruption of • Democracy in Europe, however, has in recent years electoral cycles, curtailment of civil liberties, the experienced erosion and backsliding. More than use of contact tracing apps, the increase in gender half of European democracies have eroded in the inequality and domestic violence, risks to vulnerable last 5 years. In particular, 3 countries—Hungary, groups, executive aggrandizement, protest waves, Poland and Serbia—have registered a more severe corruption cases and challenges in the relationship form of erosion, called democratic backsliding, with between local and national governance. Hungary regressing on its democratic standards for the past 14 years. • Europe’s democracies have mostly showed resilience, and opportunities for furthering the • The pandemic has intensified these pre-existing integrity of elections, for digitalization and for concerns. The 3 backsliding countries in Europe innovative social protests have arisen. have implemented a number of measures to curb 1 Taking Stock of Regional Democratic Trends in Europe Before and During the COVID-19 Pandemic The Global State of Democracy Special Brief, January 2021 IN FOCUS 1.
    [Show full text]
  • Blog: What to Expect from Sunday's Legislative Elections in Romania
    LSE European Politics and Policy (EUROPP) Blog: What to expect from Sunday’s legislative elections in Romania Page 1 of 3 What to expect from Sunday’s legislative elections in Romania Romania will hold legislative elections on 6 December. Sergiu Gherghina previews the vote, writing that while the ruling National Liberal Party is likely to stay in power, the elections will represent a number of firsts for the country. Romanians will go to the polls this Sunday, the fourth time they have been called to vote in an election in a little over 18 months. This time, it will be legislative elections on the ballot, following presidential and European elections in 2019, and local elections earlier this year. The previous three elections demonstrated a consistent pattern that is unlikely to change in the forthcoming legislative elections. The ruling National Liberal Party (PNL), which currently holds power in a minority government, will continue their term in office, but with the possibility of strengthening their position. Three novelties for Romanian politics The 6 December elections will nevertheless bring several novelties to the Romanian political arena. It will be the first time in more than two decades that the Social Democratic Party (PSD) will not be in pole position to win the popular vote. This is underlined by the fact the PNL secured the largest vote share at last year’s European elections, won the 2019 presidential election, and defeated the PSD in the 2020 local elections. Although the social democrats placed second in all three of these contests, the party is facing a battle to maintain this position in the face of strong competition from a recently formed electoral alliance between the Save Romania Union (USR) and the Freedom, Unity and Solidarity Party (PLUS).
    [Show full text]
  • E-Voting Protocols in Context of COVID19
    E-voting protocols in context of COVID19 Sfîrnaciuc Emilia∗ Vasilescu Miruna-Elena† Simion Emil‡ Abstract Electronic voting consists of the methods that use an electronic system in the pro- cess of recording, counting or transmitting votes. It is relatively a new concept used in the democratic processes and especially in the context of COVID19. It’s aim is to reduce errors and to improve the integrity of the election process. In this paper, we provide a review of the existing systems used in Europe. Initially, we mention the factors that influence the adoption of such systems at a large scale. We further describe the systems used in Russia (Moscow’s primary) and in Romania (for counting the ballots). These systems are analyzed in order to find out if they respect technical challenges such as verifiability, dependability, security, anonymity and trust. Keywords: e-voting, encryption, cryptanalysis, Blockchain, El-Gamal cryptosystem, Mu-Varadharajan system 1 Introduction One of the main topics in today’s society and especially in the Computer Science field is the use of electronic voting systems. These systems play a decisive role in democratic organizations and represent a relatively new technology that helps voters register their ballots in elections, using computerized systems. Electronic voting means the methods that use an electronic system connected to the Internet in the process of recording, counting or transmitting votes. It can be used both for elections for political functions, as well as for democratic decisions and public opinion polls. Since the publication of the first cryptographic protocol with applicability in electronic elections (Chaum , 1981 and 1982), numerous solutions have appeared in the academic environment to deal with security issues in this field.
    [Show full text]
  • Property Index Overview of European Residential Markets 10 Th Edition, July 2021 Property Index | 10Th Edition, July 2021 Property Index | 10Th Edition, July 2021
    Property Index Overview of European Residential Markets 10 th edition, July 2021 Property Index | 10th edition, July 2021 Property Index | 10th edition, July 2021 Introduction Introduction 3 We are pleased to present you this 10th anniversary edition of the Property Index, Overview of European Residential Highlights 5 Markets. During more than a decade, Property Index has become one of the most influential publications on residential Impacts of the Coronavirus Pandemic real estate markets in Europe and has proven to be a valuable on Residential Real Estate Markets 6 source of information for professionals, institutions and general public. Economy outlook – recovery from COVID recession begins 10 Property index analyses factors shaping the residential markets together with their development and compares Comparison of Residential Markets – residential property prices across selected European countries Housing Development Intensity 12 and cities. Comparison of Residential Property Prices The publication aims to provide you with European residential in Selected Countries and Cities 16 market data on a regular basis and to answer questions on how Europeans live and at what costs. Mortgage Markets in Europe 32 Despite the fact that the aim of this publication is to provide Annex: a complex overview of the past year’s development on Comments on Residential Markets 34 residential markets in European countries, we could not ignore the current ongoing situation caused by the coronavirus Contacts 47 pandemic outbreak in 2020 that still dominates in the public Authors 48 debate even today. We hope you will find this edition of Property index interesting and that it will provide you with insights and information you need.
    [Show full text]
  • Romania Political Briefing: Outlook for 2020: a Coalition Government Who Has to Deal with the Pandemics Oana Cristina Popovici
    ISSN: 2560-1601 Vol. 36, No. 1 (RO) January 2021 Romania political briefing: Outlook for 2020: a coalition Government who has to deal with the pandemics Oana Cristina Popovici 1052 Budapest Petőfi Sándor utca 11. +36 1 5858 690 Kiadó: Kína-KKE Intézet Nonprofit Kft. [email protected] Szerkesztésért felelős személy: CHen Xin Kiadásért felelős személy: Huang Ping china-cee.eu 2017/01 Outlook for 2020: a coalition Government who has to deal with the pandemics 2021 started with a new liberal Government, representing a coalition formed by three parties which managed to impose the majority in the new Parliament, elected in December 2020. The probability of populist measures, meant to further affect the budget deficit, is reduced, but the Government has to deal with several major problems this year: first of all, the adoption of the state budget; secondly, the relaunch of the economy while continuing to handle the COVID-19 pandemics and the vaccination campaign and finally, drawing the Resilience and Recovery Plan for absorbing the European Union’s funds. The end of 2020 in Romania was marked out by the elections for the National Parliament, whose results were meant to shape the new political environment. The results were in the favour of the Social Democrat Party, which gathered almost 29% of the total number of votes, followed by the National Liberal Party (NLP) with over 25% and the Union Save Romania (USR) and PLUS alliance, with over 15%. The results were not the expected ones for NLP, which was the main favourite to win the election, according to the opinion pools.
    [Show full text]
  • Financial Market Reactions to the Political Uncertainty. Study Case: Romania
    “Ovidius” University Annals, Economic Sciences Series Volume XX, Issue 2 /2020 Financial Market Reactions to the Political Uncertainty. Study Case: Romania Luciana Simion Bucharest University of Economic Studies, Doctoral School of Economics and International Business, Romania [email protected] Georgiana-Loredana Schipor “Ovidius” University of Constanta, Faculty of Economic Sciences, Romania [email protected] Abstract The goal of this paper is to identify the influence of the economic policy and political uncertainty on the Romania stock market. We used the Bollinger Bands set at two standard deviations and Bollinger Bandwidth Indicator in order to emphasize volatility. By applying technical indicators on the BET-XT index between 2018 – 2020, the findings show that political uncertainty influences the index evolution. Our study shows that the magnitude of the impact of policy measures is stronger than the impact of events such as presidential, local or European parliamentary elections, cabinet formation and dissolution. The study reveals an asymmetry of the index volatility, in the sense that unexpected “shock” type events with negative impact determined a much higher volatility. The SPSS analysis reveals the indirect correlation between the number of COVID-19 daily registered cases in Romania, as major panic factor at the beginning of the pandemic, and the BET-XT evolution. Key words: political uncertainty, volatility, financial market, BET-XT J.E.L. classification: G10, G14, G18 1. Introduction In this paper, we focus on the effects of political uncertainty on the Romanian financial market, considering the major political events that have dominated the period 2018-2020, including the supporting measures of the authorities to decelerate the COVID-19 pandemic influence to some activity sectors.
    [Show full text]