ROMANIA TO GET EU GREEN LIGHT

Romania is expected to be given the green light on its accession progress by Brussels chiefs, paving the way for EU entry in 2007.

The European Commission is set to announce on Wednesday that Romania now has a “functioning market economy”, a key accession prerequisite laid down by Brussels.

Wednesday’s progress report on Bucharest’s accession will show that Romania has achieved “macroeconomic stability”, “profound economic reforms” and “commitment” to the EU accession process, reports FT Europe.

The leaked draft report concludes that “Romania complies with the criterion of being a functioning market economy.”

Romanian prime minister Adrian Nastase is said to be confident that his country would be given the all clear due to its “very strong and determined” approach to economic reform.

But critics still have serious doubts over widespread corruption and the slow progress of legal reform.

The threat of delayed entry still hangs over Romania. A “safeguard clause” on Bucharest’s membership could set back entry until 2008, if problems are not ironed out in time.