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International Finance Institutions Pledge Increased Collaboration to Accelerate Development of Local Capital Markets

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Representatives of seven international finance institutions today (April 18) vowed to increase collaboration and improve coordination to accelerate the development of local capital markets and increase access to local currency finance in emerging markets.

Ahead of the 2013 Spring Meetings of the World Bank Group-International Monetary Fund in Washington, D.C., senior officials of the African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, European Development Finance Institutions, Inter-American Development Bank, International Bank for Reconstruction and Development, and International Finance Corporation discussed collaboration on specific initiatives to promote local capital markets and local currency financing.

On behalf of their institutions, officials pledged a continued commitment to the development of local currency finance and capital markets through collaboration on direct market participation, policy dialogue, advisory assistance, and advocacy.

They also affirmed a joint aspiration to accelerate the development of local currency finance and emerging capital markets by leveraging the expertise and experience of each institution, and by coordinating efforts when this can achieve greater impact.

“A thriving private sector is a key driver of economic growth and jobs. Access to financing, and local currency finance in particular, is one of the biggest challenges for the private sector in developing countries
,” said Jingdong Hua, IFC Vice President and Treasurer. “Providing such access through deep and resilient local capital markets is essential to achieve sustainable economic growth and shared prosperity.”

Officials vowed to coordinate to ensure they complement each other’s efforts. “Given the pivotal role that local capital markets play in strengthening global financial stability and providing financing for long-term investments and growth, our ability as IFIs to leverage our resources will determine how well we can support our client’s needs,” said Janamitra Devan, Vice President of Financial and Private Sector Development, World Bank Group“By working together, our institutions can achieve much more than we could by acting individually.”

The meeting also served as the official launch of a Senior Forum for Local Currency Finance and Capital Markets Development that will meet regularly to share experiences, explore opportunities for coordination, and agree on joint initiatives.

The next meeting of the forum will take place in Washington, D.C., in October 2013.

 

Source: World Bank

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EXCLUSIVE | NATO Secretary General: America is completely invested in NATO and Romania. The Eastern Sentry starts in the Black Sea because it’s of vital strategic importance to NATO

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During his first official visit to Bucharest as NATO Secretary General, Mark Rutte reaffirmed in an exclusive interview with CaleaEuropeană.ro the United States’ and NATO’s full commitment to Romania and the Eastern flank, dismissing any speculation about a “decoupling” between Europe and the US for the European security amid American reduction of forces in Romania.

The US is completely invested in NATO, completely invested in Romania. You have seen President Trump at The Hague Summit. (…) This has absolutely nothing to do with this country. You are a highly valued NATO ally,” Rutte said.

The NATO chief also emphasized the importance of continued support for Ukraine, warning that any reduction in that support would directly increase the threat to Romania and to the Alliance as a whole.

If Ukraine were not supported, the threat to Romania would be much greater“, he added, suggesting that in this case Romania and its allies would have to do much more for defense.

When we talk about NATO, we talk about Romania. When we talk about Romania, we talk about NATO. It’s one and the same thing“, he added, noting that the threat to Romania and NATO would be one and the same.

Rutte added that the Alliance is adapting to the new security realities by integrating the defence of the Eastern Flank within the new “Eastern Sentry” concept, which starts in the Black Sea and stretches to the High North.

The Black Sea is of vital strategic importance to NATO. What Romania is doing to keep it safe and free is crucial,” he stated.

The NATO Secretary General also thanked Romania for its support to the Republic of Moldova, stressing that he shares the “sense of urgency” expressed by President Nicușor Dan regarding hybrid threats from Russia.

 

CaleaEuropeană.ro: Mr. Secretary General of NATO, Mark Rutte, welcome to Romania on your first visit here as NATO’s top official and especially welcome on Calea Europeană!

Mark Rutte: Thank you to have me on the platform.

CaleaEuropeană.ro: Mr. Secretary General, your visit coincides with Washington’s announcement about repositioning rotational U.S. forces in Romania. How should Romanians, a people with high confidence both in NATO and our bilateral Strategic Partnership with the US, perceive this decision?

Mark Rutte: Well, let me be very explicit. The Americans have a big presence in Europe. What they are constantly doing is adjusting their presence, making sure that they make the best use of their troops in Europe, and they took this decision. This has nothing to do with Romania, nothing to do with NATO or their commitment. It has to do with the fact that they want to make sure that they make maximum use of their resources. And Romania is extremely well protected by your own armed forces, by the foreign land force, but of course also by the fact that we have this deal in NATO, which is that if you got to be attacked, we will collectively come to the rescue. And that is all staying there. 

CaleaEuropeană.ro: Can you confirm whether other NATO allies, since the NATO battlegroup in Romania led by France will be scaled up to a brigade, will compensate for this US adjustment in Romania?

Mark Rutte: This is an adjustment because they came to the conclusion that they can make better use of those troops in another way. We have this Eastern Sentry activity, which starts in the Black Sea and ends in the High North, which is integrating everything we do to protect our Eastern Flank. If in that context you would, whenever, wherever, more troops or whatever resources in Romania, they will be there.

CaleaEuropeană.ro: Either European or American?

Mark Rutte: Yeah. I mean, of course, the whole of NATO is collectively defending the Eastern flank. And that means that it’s never this one flag on the mission, it’s always the collective NATO endeavour. But always starting, of course, with your own Romanian Armed Forces. And that’s why I’m so happy that Romania is really investing in this collective defence itself.

CaleaEuropeană.ro: The reason why we are insisting on this topic is that in the Eastern part of NATO there is a sensitivity or fear of Europe decoupling from the US or vice versa. Do you feel that this US troops reduction will shift Romania from a balanced US – European military footprint to a more European one?

Mark Rutte: Can I please again tell you, you are looking, you are really reading too much into this. The US is completely invested in NATO, it’s completely invested in Romania. You have seen President Trump at the The Hague Summit. He had only one irritant with NATO, and rightly so. And that was the fact that we in Europe were not paying the same as the Americans are paying. And this is a problem since Eisenhower was President in the US. This US President has been able to correct that. With the NATO Summit in The Hague, Europeans, including Romania, have decided we will pay the same as the Americans, not only because we want to equalise with the US, but because we need it for our own collective defence, because of the staggering Russian military build-up over the last couple of years, still continuing. So, the US is completely invested in NATO, completely invested in Romania. This is the normal day-to-day job of every nation to make sure that you make maximum use of your troops. They came to the conclusion, we can better adjust a little bit like they did. Absolutely nothing to do with this country. You are highly valued, because you punch above your weight. You are active all over NATO territory. You are a highly valued NATO ally. And this is not me saying this. I hear this from every corner in NATO that they respect Romania.

CaleaEuropeană.ro: In his recent memoir, your predecessor Jens Stoltenberg, talks about the fiery summit in 2018 when you played a role in calming US President Donald Trump. Also, one of the qualities that portrayed you on top for the NATO race is being “Trump’s whisperer”. Is it hard to win Donald Trump’s heart and mind?

Mark Rutte: Nobody is a whisperer. Not for you, for me, for President Trump. Let’s stay with the facts. What he did when he was in his first presidency, in Trump 45, he said to the Europeans, you committed to 2%. It was this famous Welsh pledge. But you are not doing it. So what we saw in 2018, that indeed, over some time since he became President in 2017, you saw a sort of uptake in European defence spending. But that is small stuff compared to what is happening now with Trump 47. Because now we will move to 3.5%. The Germans, for example, when you compare 2021 with 2029, they will add another 100 billion euros, which is another 115 billion dollars each year to their defence spending. Yes, this is because of the Russian threat, but also because the Americans rightly have told us, hey, we want to stay involved, we want to stay engaged, but you have to equalise your spending with what we are spending. And we did. This was The Hague Summit. I still think that was one of the biggest foreign policy successes for President Trump. So he doesn’t need a whisperer. The facts are there. He is delivering, and we are with him.

CaleaEuropeană.ro: Thank you. Moving now to Romania, because you mentioned the important role that we have in the Alliance… We know that Romania has become central to NATO’s presence in the Black Sea, and there is no secret that Romania pushes forward for a more important role of the Black Sea region in NATO, especially since Russia’s full-scale invasion in Ukraine. But NATO officials are often asked about the difference of a more articulated Allied presence in the Baltic region and a lower one in the Black Sea. How do we counter this? 

Mark Rutte:  There is no talk of this. Maybe someday you will always have gossip. You are a journalist. When you go to the EU or to NATO, you always have the chattering classes discussing this. But this is not what is happening in real life. The fact that we are now integrating the defence of the Eastern Flank within this Eastern Sentry activity, it is starting in the Black Sea. Why? Because the Black Sea is of vital strategic importance to NATO. What you are doing, what Turkiye is doing, what others are doing to keep the Black Sea safe and free is crucial. But, of course, we also have to defend the High North, so the whole of the Eastern Flank is crucial. And the great thing with this new activity, Eastern Sentry, is that we combine all these activities. That’s one. So we are more flexible. We can, as I said before, we can scale up and do more in Romania or wherever and whenever is needed. But also, when it comes to the new technologies, we know the drones, having entered NATO airspace over the last couple of weeks again. Were very reckless, even if it was not intentional. It was at least reckless and unacceptable. But to build our own anti-drone technologies it will be part of this platform. So that we can speed up, scale up what we do in terms of countering these drone activities. One type of project like this is the Eastern Sentry.

CaleaEuropeană.ro: And with this Eastern Sentry project that somehow started as a Baltic Sentry, do you see the Black Sea moving towards a more permanent or NATO maritime coordination framework also for drones, anti-drones, air drones, naval drones and so on? 

Mark Rutte: The Baltic Sentry is specific for the Baltic. It is there because of the hybrid threats, cutting of other CC cables, etc. That’s why we launched on the 5th of January this year, 10 days after the latest incident between Finland and Estonia on the 25th of December, we launched the Baltic Sentry. That’s specifically for the Baltic Sea. But when it comes to Eastern Sentry, this is integrating all the defence of the Eastern Flank in terms of air and whatever you need. As I said, starting in the Black Sea and ending, and if necessary, beyond. But I don’t think there is a beyond to High North. So it is from the Black Sea and to the High North. Yes, making it more flexible, integrating everything we are doing, but also, indeed to your point, making sure that we can implement the latest technologies, particularly when it comes to hybrid, drones, etc. Learning from Ukrainians, taking lessons from what is now happening in Denmark a couple of weeks ago, Belgians are at the moment also struggling with drones above their airports. We are working together as NATO countries to support, but also to learn, so that we become better and better in comforting them. 

CaleaEuropeană.ro:  You opened here in Bucharest together with President Nicușor Dan the NATO Industry Forum. You’ve put ramping up military production and meeting capability targets at the core of your mandate. Taking a quantum leap, you said. But which one is more pressing:p utting the industry on the wheels of delivering capabilities for allies, support for Ukraine as it heads into another winter of war, or the prospect of Russia testing NATO’s agility and maybe Article 5? 

Mark Rutte: When it comes to Ukraine, this is a specific point I wanted to make for your viewers, if you allow me. I know there is a debate in every country, also in Romania, should we keep on supporting Ukraine. Please understand, if Ukraine would not be supported, the threat to Romania would be so much bigger than with Ukrainians staying in the fight.

CaleaEuropeană.ro: And for NATO as well.

Mark Rutte: Yeah, but Romania is NATO, NATO, Romania. There is no difference. When you talk about NATO, you talk about Romania. When you talk about Romania, you talk about NATO. It is, as you see here, the Romanian flag, NATO, it’s all the same. And we have to make sure that the Ukrainians will stay, not only because of our values, because this is a direct security threat to Romania, to the whole of NATO, if they would not stay in the fight, if they would not sustain. And forget that you can then spend 3.5 percent on defense. And thank you, Romania, for doing it, even before 2035. But then you would have to move to 5, 6, 7 percent defense spending. It would have massive impacts on our societies if that happens. Because the Russians would then be emboldened and so much stronger. We have to ramp up defense production, absolutely, because it’s an integral part of our deterrent defense. But also, we have to make sure that Ukraine stays as strong as possible in the fight.

CaleaEuropeană.ro: Exactly one year ago Romania’s democracy has been under pressure by a sophisticated campaign targeting our presidential elections. When referring to Russia’s destabilising activities in Romania, President Nicușor Dan quotes the North Atlantic Council Statement condemning Moscow’s malicious cyber activities in Romania and he believes that when it comes to hybrid warfare we are one step behind Russia. How can we turn this tide?

Mark Rutte: I’m not sure we are one step behind. I’m not sure I completely would subscribe to what he says about that if you quote him correctly. But I do, I do of course concur with his sense of urgency, which is part of that statement by the President. But I can assure you that the whole of NATO, including Romania, we are all very much aware of the hybrid threat. It has many faces. It is multifaceted. We cannot always talk about it in public, what we are doing to counter it, to make sure others will not try again. But it is an integral part of our defense. Let me be very clear about this and we have seen also in the recent Moldovan elections. And thank you again to Romania for everything you do for Moldova. It’s crucial. How important it is that elections are as free as possible.

CaleaEuropeană.ro: Thank you very much, Mr. NATO Secretary General.

Mark Rutte:  Thank you very much. Thank you.

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EDITORIALE

Why our world is better and how it would change if we accepted theirs

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By Dan Cărbunaru

The manipulations and disinformation eroding Western society are casting us adrift, into a drift that democracy seems poised to internalize, replacing the dynamics of civic engagement. In other words, precisely the bond without which the elected and the elector can remain connected only through the resigned necessity of maintaining appearances

For years, legitimate criticisms of the imperfections of the democratic system have been assembled and woven into narratives of hostile hybrid techniques, in which psychological influence methods have already led to the shaping of a veritable cognitive war.

Ideological narratives have succeeded in convincing an increasing number of Western citizens that democracy is corrupt, while simultaneously favoring the far right, after conservatives shifted toward the center.

While leaders prepare for the ever more probable confrontation with Russia, citizens’ readiness to defend democratic rights seems far behind their preparedness to defend their own territory.

Strengthening the mass media, education, and critical thinking are frequently on the lips of theorists and, at times, politicians, yet the results are slow to appear. Meanwhile, disinformation continues, growing ever more sophisticated, and exposure to conspiracy theories and manipulations deepens levels of mistrust, confusion, and disengagement.

Beyond this baseline, propaganda begins to bear fruit, influencing the population to act—for example, steering not only their perception but also their vote in a particular direction.

Although disinformation is easier to carry out, it is only a first stage. After values are relativized and citizens disoriented, opinions are then channeled toward action.

With a population increasingly disconnected from leaders they no longer identify with, leaders who have been subjected to a campaign of discrediting, an attack on elites becomes, in turn, an attack on those different from oneself as an individual.

How can one distinguish truth from falsehood, defend the Constitution, and yet not undermine democracy?

Today, we see ever more clearly how the Russians use weapons from the hybrid warfare arsenal, tools we either do not know well enough or do not fully understand, while simultaneously threatening with the military arsenal we are familiar with.

Drones, aircraft, ballistic missiles, launched alongside narratives that twist the minds of audiences—first-generation weapons.

After the failure to conquer Ukraine in three days, it took more than a year to fabricate justifications for horrors unseen since World War II. Then, after crafting messages to justify the crimes, the targeting of civilians, and the invasion, the messengers exploited the outcome of the U.S. elections. These gave them an opportunity to pose as pro-American by echoing certain ideas promoted by the victorious U.S. conservatives. And this is how Europe found itself antagonized—branded as progressive in contrast with the Democratic camp in the United States, and with the self-styled new conservative knights of the East.

And so, the battle between autocrats and democrats has intensified. Unfortunately, mercantilism has turned the confrontation of values into negotiation and barter. Somehow, in a sad irony, this mirrors the blindness of Europeans who continued doing business with the Russians even after the illegal annexation of Crimea. The shift from democracy to autocracy through mercantilism, and the legitimization of pro-Russian sentiment through conservatism, has allowed the ongoing relativization and blending of values, thereby making it even harder to grasp the fundamental stakes.

Meanwhile, the quality of the political class is declining, creating a problem that goes beyond the continuity of leadership in autocracies.

But in the end, why should citizens believe in democracy more than their leaders do? Leaders discredited by smear campaigns, by their own political battles, grounded in realities already known to the public. Under such conditions, the watchdog of democracy unintentionally amplifies the impact of hybrid campaigns—confirming corruption in the system, discrediting leaders, all against a backdrop of missing positive projects, of construction and hope.

What is happening at the level of European leadership? Leaders are isolated and divided, both from one another and from their citizens. We no longer have popular leaders who are not, at best, mere populists.

Meanwhile, those left behind, whether through lack of education, inadequate preparation, or any form of marginalization, feel abandoned in the midst of an economic and social transformation unfolding under the pressure of various challenges: inflation, structural shifts in the economy, digitalization, green policies, and migration.

What remains of the inclusive society, one that should not leave people abandoned in the course of progress?

How long can democracy withstand this cocktail of mistrust, fear and disengagement?

Populist leaders claim to be the only ones who know the solution, tolerating no challengers. Don’t get involved in politics, it’s for others. The discouragement of participation in the democratic game has strengthened an alternative in which extremists are rising in the polls, in votes won, and perhaps soon in power.

With citizens discouraged and disconnected from the stakes of functional democracy, and with states either unable or unwilling to manage the psychological warfare waged against society, are we left to await direct confrontation, a conventional war? Or will our democracies surrender, one by one, like the towers of a fortress collapsing from within?

The relativization of democracy and the drift toward autocracy demobilize the effort of defense. What are we defending? What sense does it make to defend a form of social organization portrayed as inefficient, immoral, and corrupt, ultimately not so different from autocracy? Does autocracy bring dialogue and peace? What kind of peace? One that redraws the moral map?

It is of little use that the Western economic model, the one that won the First Cold War, remains functional and unbeatable, or that technological progress and innovation continue to be powerful assets in global competition, if the social fabric is so vulnerable and so difficult to protect or regenerate through democratic means when faced with the instruments activated by autocracies.

Unfortunately, the vulnerabilities being exploited are rooted in mistakes and realities; they are not activated in an empty aquarium. 

And those who come to see the resolution of their real or imagined problems through means that weaken or even call into question democratic mechanisms become supporters of the very plan through which our democracies can be transformed into autocracies. The image of a Russia as savior, capable of delivering us from the dangers loudly painted across social media, as a liberator from oppressive elites, is a false representation of the real solutions Western societies need in order to regain balance.

It is true, hybrid warfare is nothing new. Nearly three millennia ago, Sun Tzu wrote that to fight and win all battles is not the ultimate excellence, but rather to subdue the enemy’s resistance without fighting. Cognitive warfare is what leads to surrender, to submission through fear.

Will we develop immunity in time? Will it be a herd immunity? A vaccine? Or will we ignore this immense existential challenge facing our democracies?

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INTERVIEW Italy’s Ambassador: Romania’s OECD accession will be “a strategic step” towards democratic and economic resilience; Our bilateral cooperation will also prioritize Ukraine’s reconstruction

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© Ambasada Italiei

Italy and Romania are strengthening their Strategic Partnership through “concrete coordination — politically, militarily, and industrially,” ambassador Alfredo Durante Mangoni told CaleaEuropeană.ro, stressing Romania’s pivotal role on NATO’s Eastern Flank and in the Black Sea, while also linking it to the stability of the Mediterranean and the Western Balkans.

In an interview at the end of his diplomatic term, the ambassador emphasized Italy’s support for Romania’s transition from Soviet-era platforms to advanced systems such as the F-16 and F-35, recalling that his country hosts the only F-35 assembly and maintenance facility outside the United States.

At the same time, Mangoni underlined that “transatlantic unity and European strategic autonomy are not contradictory, but complementary,” pointing to the allies’ pledge to dedicate 5% of defense investment to joint procurement and to the strategic importance of the SAFE instrument in strengthening Europe’s defense industrial base.

The ambassador also noted that Romania’s recent experience in facing disinformation campaigns, including the annulment of its 2024 presidential elections, “has become an emblematic case for European democracy as a whole.”

On the economic front, he praised Romania’s potential as a regional energy and technology hub and highlighted that OECD membership would be “a strategic step to consolidate democratic governance and economic resilience,” while stressing that bilateral cooperation will also prioritize Ukraine’s reconstruction through major infrastructure and energy projects.

CaleaEuropeană.ro: Looking back at your mandate, what do you consider to be the most significant achievements in the relationship between Italy and Romania?

Alfredo Durante Mangoni: Thank you for the question. One of the most significant achievements of my mandate was the Italy Romania Intergovernmental Summit after 13 years which relaunched the Enhanced Strategic Partnership between Italy and Romania. Together with Prime Minister Giorgia Meloni and former Prime Minister Marcel Ciolacu, we signed a comprehensive joint declaration covering all key areas of cooperation, a true Action Plan. On that occasion, we also organized a major Business Forum, which brought together institutions and entrepreneurs from both sides, further strengthening the economic dimension of our partnership.

Other highlights include the official visit of President Sergio Mattarella to Bucharest in June 2024, and the presentation of a research study on the impact of Italian investments in Romania. Just last week, we launched the business guide “Diplomacy for Growth: Destination Romania”, alongside the visit of a delegation from the Italian Parliament—further proof of our shared commitment to deepening economic ties.

These milestones reflect a stronger, more strategic relationship between our countries, built on trust, shared values, and a common European vision.

CaleaEuropeană.ro: In the current security context marked by Russia’s war of aggression against Ukraine, how have Italy and Romania cooperated within the European Union and NATO, and how do you see Italy’s and Romania’s role in supporting Ukraine’s defense? At the same time, how can Romania and Italy work better at the EU level, considering the ambitions to ramp up the defence industry under SAFE instrument?

Alfredo Durante Mangoni: In the current security context marked by Russia’s war of aggression against Ukraine, Italy and Romania have significantly deepened their cooperation within NATO. Our joint focus is particularly strong on NATO’s Eastern Flank, where Romania plays a pivotal role in safeguarding European security, especially given the strategic importance of the Black Sea. For Italy, the stability of this region is closely linked to that of the broader Mediterranean and Western Balkans, making maritime security and NATO deterrence natural areas of collaboration.

Italy and Romania share a common vision as EU and NATO members, and our Strategic Partnership translates into concrete coordination—politically, militarily, and industrially. We are working toward a bilateral defense agreement to further consolidate this cooperation, with a strong emphasis on joint training, exchange of best practices, and defense industry partnerships. Italian participation in NATO air policing missions in Romania reflects this growing trust, alongside active dialogue between our armed forces, including naval and air assets.

Romania’s transition from Soviet-era platforms to more advanced systems opens new opportunities for collaboration. Italy has invested in Romania across multiple defense sectors—land vehicles, naval retrofitting, drones, satellites—and is ready to offer a wide range of products and services, enabling technology transfer and qualified employment. A key area is Romania’s acquisition of F-16 aircraft and pilot training, with the next step being the F-35. Italy hosts the only certified F-35 assembly and maintenance facility outside the U.S., and we stand ready to support Romania with both assembly capacity and advanced training.

In parallel, the European SAFE instrument offers a strategic opportunity to build a more integrated and resilient European defense industry. Italy and Romania are among its largest beneficiaries, and while national project portfolios are still being finalized with the European Commission, there is strong political will to deepen cooperation and unlock industrial synergies that strengthen collective security and competitiveness. At the same time, our Strategic Partnership is also framed within the broader ambition of advancing the European project: focusing on the Green Deal and the twin transition, enhancing energy security, resilience, and strategic autonomy. By working together in these areas, Italy and Romania can contribute to the creation of true European public goods, reinforcing the Union’s cohesion and global role.

CaleaEuropeană.ro: Transatlantic unity remains vital for Europe’s security. Italy seems to perform well in its relationship with the US and namely the Trump administration. What can we learn from this approach and what implications could this have for NATO and Eastern Flank security?

Alfredo Durante Mangoni: Transatlantic unity remains a cornerstone of European security. The United States continues to play a central role in guaranteeing peace and stability across the continent—a role it has upheld for over 76 years. The enduring strength of the transatlantic partnership is not only a historical pillar but a strategic necessity in the face of evolving threats, particularly on NATO’s Eastern Flank.

Italy’s solid relationship with the United States, including with the current administration, reflects a pragmatic and forward-looking approach that reinforces NATO cohesion. At the same time, the evolving posture of the U.S. administration can be interpreted as an opportunity for the European Union to accelerate its path toward greater strategic autonomy.

This shift has already prompted concrete commitments: at the NATO Summit in The Hague, European governments—including Italy and Romania—pledged to reach the target of 5% of defense investment dedicated to joint procurement, innovation, and industrial capacity. In parallel, the launch of the ReArm Europe initiative and the SAFE instrument offers a historic opportunity to strengthen Europe’s defense industrial base.

In this context, transatlantic unity and European strategic autonomy are not contradictory—they are complementary. A stronger Europe, capable of investing in its own security and defense industry, ultimately reinforces NATO and contributes to the collective deterrence posture, particularly in regions like the Black Sea and the Mediterranean, where Italy and Romania share converging strategic interests.

CaleaEuropeană.ro: Romania recently faced major challenges from hybrid campaigns that even disrupted its presidential elections last year, while other European partners face similar threats. From your perspective, how can Italy and Romania strengthen cooperation in countering disinformation and protecting democratic institutions?

Alfredo Durante Mangoni: Romania’s recent experience with hybrid threats, culminating in the annulment of its 2024 presidential elections due to foreign interference, has become an emblematic case for understanding the impact of disinformation on European democracy. The Constitutional Court’s decision of December 2024 highlighted both the fragility of the digital information space and the transnational nature of manipulation campaigns.

Italy and Romania can respond by strengthening cooperation through joint training, sharing best practices, and supporting platforms, which bring together institutions, civil society, journalists, and international experts. These fora should focus on the importance of media literacy, open-source intelligence, and support for quality investigative journalism as essential tools to build resilience.

At the European level, Italy has stressed the need for a coordinated, multi-layered approach against foreign information manipulation. By aligning efforts and integrating media education into national security strategies, Italy and Romania can help safeguard electoral integrity, reinforce democratic trust, and contribute to a stronger and more resilient European Union.

CaleaEuropeană.ro: Italy is one of Romania’s most important economic partners. Where do you see the greatest opportunities for deepening bilateral trade and investment in the coming years?

Alfredo Durante Mangoni: Italy is already one of Romania’s leading economic partners, and I believe there is still considerable potential to deepen our trade and investment ties. Romania’s growing integration into European value chains and the steady improvement of its skilled workforce make it an increasingly attractive hub for technological development and for consolidating its role as a regional energy center.

Italian companies are well positioned to contribute to this process, building on a long tradition of excellence in infrastructure and transport projects, where our know-how has left a visible mark over the past three decades. Looking forward, however, opportunities extend well beyond this sector. As highlighted in the Business Guide, published by the Embassy and freely available on our website, the most promising areas for future cooperation include transport and sustainable infrastructures; the energy sector; the circular economy; and AgriTech whit food processing, and agri-food products.

These are fields where Italian expertise and Romanian potential can complement each other, guided by shared principles of quality, sustainability, and innovation. By focusing on these priorities, we can further strengthen bilateral economic relations and create new opportunities for growth in the years ahead.

CaleaEuropeană.ro: Looking forward, what areas of cooperation do you believe should become priorities—particularly regarding the reconstruction of Ukraine and regional stability?

Alfredo Durante Mangoni: Looking ahead, reconstruction of Ukraine and the broader effort to ensure regional stability should be one of the key priorities for Italy and Romania cooperation in the infrastructure and energy sectors where our countries can make a meaningful impact.

A prime example is the Brăila Bridge, a critical infrastructure project near the Ukrainian border, built by a consortium with a majority participation of the Italian company Webuild. Its strategic location and engineering excellence make it a potential logistical asset for future reconstruction efforts in Ukraine.

Equally important is the Neptun Deep gas project in the Black Sea, where the Italian company Saipem, known for its cutting-edge subsea technologies, won a major contract for gas extraction and transport. Operating in a geopolitically sensitive area adjacent to a war zone, Saipem brings the expertise needed to manage complex geological conditions. In the energy sector, another significant contribution comes from Ansaldo at Cernavodă, where Italian technology and expertise are supporting Romania’s nuclear energy development, further strengthening the country’s energy security and diversification. When Romania will become the EU’s leading gas producer in the coming years, such success will owe a lot to Italian technology and know-how.

CaleaEuropeană.ro: Italy has supported Romania’s path toward OECD membership. What reforms and policy changes do you believe will be most important for Romania to succeed, also in the context of further attracting Italian investments?

Alfredo Durante Mangoni: OECD membership would be a strategic step for Romania to consolidate democratic governance, economic resilience, and international credibility. To succeed in this process, Romania will need to focus on a few key reform areas such as strengthening institutional capacity and regulatory transparency, improving infrastructure and connectivity, enhancing workforce skills and technical education and accelerating the green and digital transitions, in line with OECD standards, to position Romania as a competitive and sustainable economy within the EU and globally.

In this context, we have also promoted public diplomacy initiatives focused on business integrity, corporate responsibility, workforce training and skills development, as well as anti-money laundering practices, which are all essential elements for building investor confidence and aligning with OECD best practices.

Italy and Romania share the ambition to become regional hubs: Italy in the Mediterranean, importing clean energy such as hydrogen from Africa for Northern European markets; Romania in South Eastern Europe, connecting the Caucasus and the Mediterranean, and bridging Eastern and Western Europe. OECD accession is a signal of Romania’s long-term commitment to reform and modernization, which Italy will continue to strongly support.

CaleaEuropeană.ro: On a personal note, how did you find Romania when you first arrived, and what are your main takeaways from this diplomatic mission as you prepare to leave?

Alfredo Durante Mangoni: When I first arrived in Romania in 2021, I discovered a country both wonderful and complex, one that truly surprised me because it is still not very well known abroad. What struck me most were the people: open, lively, and always genuinely interested in Italy, not only those who have lived or studied there, but also many others who feel a natural closeness to our culture. There is a kind of Latin warmth here in terms of hospitality, an ease of understanding, and a sympathy that exist a priori.

During my tenure here, I found a nation rich in human qualities and blessed with extraordinary natural beauty. I have witnessed Romania changing, with more and more welcoming places where my wife and me had the opportunity to rest and recharge over the weekends. Looking ahead, I believe Romania should continue to invest in its natural treasures, as they hold the potential to foster sustainable tourism, an asset that could become an important source of economic growth in the future.

On a personal note, I have been particularly impressed by Bucharest, which I have seen transform into an extremely vibrant and constantly buzzing city, especially in the fields of contemporary art, architecture, and design. Today, it is establishing itself as a true ‘place to be,’ an unexpected incubator of new trends that was not there when I first arrived here.

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