Archive » February 2009 » 09 February 2009 The english news from 09 February 2009
Raiffeisen tries to cut loan-deposit ratio from 120% to 100%
"There will be defaults, there will be foreclosures, but we also have loan restructuring products. (...)," says Razvan Munteanu (photo), Raiffeisen Bank vice-president in charge of retail. As interest rate hikes have been compounded by the steep RON decline, Munteanu says he foresees "a certain loan portfolio deterioration", but considerably below what stress tests indicated for such a decline…
Romania's Cabinet to give up idea of a sole energy company, but set up 2-5 equal producers instead
Creating a national energy company (CEN) would mirror into higher prices for the electricity sold to eligible consumers according to a memorandum approved by the government three days ago and built on 2006 study which ranged advantages of having 2-5 equal producers on the market…
Romania can choose: an IMF loan or state bonds
Romania could need immediate financing to cover deficits, in case it slides into recession. A possible financing source is internal loan, which is the most at hand and would give the impression that individuals contribute to the overcoming of the crisis. However, this could not be sufficient, so an international loan might be required…
Romanian Govt Should Support Local Unit Of Ford
Head of Romania's Social Democratic Party, Mircea Geoana, said Saturday that the Government should consider an integrated set of measures supporting the local unit of American carmaker Ford, which forms, together with Romanian carmaker Dacia, "the pillar" of the local auto industry…
Swiss vote on letting in Romanians, Bulgarians
An anti-foreigner campaign spurred by deepening economic gloom is sending Swiss voters back to the ballot box in a referendum that could unravel the country's laboriously negotiated ties to the European Union. The vote Sunday on whether to admit Romanian and Bulgarian workers to the wealthy Alpine republic recalls a 2005 referendum…