The prime minister was responding to Basescu's statements made late Monday describing Ponta of having been an undercover officer of Romania's Foreign Intelligence Service (SIE) between 1997 and 2001.
"These are complete lies," Xinhua quoted Ponta as telling the reporters in Iasi, northeastern Romania, when asked about the president's allegations.
Ponta stressed that the lawbreaker, whoever it might be, will be held accountable by responsible institutions if there are indications in this case that the law has been violated in one way or another.
According to the prime minister, he duly observed the country's laws since graduation from law school in 1995, "I served my country as a magistrate, a deputy, then as a minister, and I will do the same as President of Romania."
Following the president's allegations, some of Ponta's opponents asked him to withdraw from the ongoing presidential race and resign as prime minister, because he violated the Constitution in force until 2003, according to which, Ponta, as a prosecutor at that time, was not allowed to be an SIE officer.