Monday, July 21, 2008

Romania president rejects new property law, says confiscated property must be returned

BUCHAREST, Romania - Romania's president is refusing to sign a law that he says represents a "reconfiscation" of property seized by the communists.

President Traian Basescu says he is returning the law adopted by Parliament back to Parliament because it cancels the right of pre-communism owners over their confiscated properties.

Romania has long struggled to return confiscated properties.

After communism ended in 1989, many such properties were sold by the state to tenants.

But Basescu says Romania must continue to return confiscated properties and the government must build apartments for the tenants. He says the law he refused to sign only serves those people who want to make money from real estate. - AP

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