* Compensation in kind takes precedence
* The party of Mihai Răzvan Ungureanu has its own draft law
The former property owners whose assets were abusively seized by the Communist regime will be compensated predominantly in kind, according to the draft of the new law on restitutions, which the government will present for the first time on Wednesday.
According to prime minister Victor Ponta, the Executive will take responsibility for the new law in the Parliament.
The procedure of taking responsibility for a law is the passing of a legislative draft through the Parliament without it being debated, as Romania is being pressured by the deadline imposed by the European Court of Human Rights (CEDO) for the amendment of the Law of Nationalized properties.
Due to the large number of lawsuits, the Government was forced by the ECHR to amend the law and it is required to do so by May, after obtaining a 9-month extension of the initial deadline which had been set for last summer.
George Băeşu, the president of the National Authority for the Restitution of Properties (ANRP) said that the draft law involves a maximum transparency and puts the interests of people and Romania's general interest first.
"Locally we will go with the restitution in kind, and on a central level, with the compensation with equivalent properties and money", George Băeşu said.
He also said that the new law requires people to be patient, but does not restrict their rights, or reduce their value.
The Mihai Răzvan Ungureanu government had proposed the capping of the compensation at 15%. Last year, the former prime minister was saying that the Romanian state would have to pay 70 billion Euros for the cases of restitution taken to the ECHR and that capping the compensations would be one solution to get rid of these payments.
The National Authority for t
