Archive » September 2008 » 29 September 2008 The english news from 29 September 2008
International crisis could delay Romania's euro-zone accession
Romania's National Bank (BNR) Governor Mugur Isarescu said the current international financial crisis could prevent Romania from joining the euro zone in 2014, as scheduled. "It is too early to see all the financial crisis' details and their impact on Romania by 2014. The crisis' potential is pretty high and some of the elements that make up the worldwide system could change by then," said Isarescu…
Romania's labor legislation needs rapid reforms, central bank governor says
Labor legislation in Romania is "stiff and obsolete" and needs to be reformed in accordance with the current rate of unemployment to avoid blocking the economic advance, according to Mugur Isarescu, governor of Romania's Central Bank (BNR)…
Head of Allianz-Tiriac: Insurers' losses will be at least as big as last year
The insurance market will see net losses at least similar to those recorded in 2007, worth almost 76 million euros, forecasts Cristian Constantinescu, general manager of Allianz-Tiriac, the largest company on the market. "After what happened this year on the market, the loss will be at least similar to last year's…
Romanian Minimum Wage Hike Inflates Traffic Violation Fines
The Romanian traffic violation fine point will reach RON54 starting with October 1, thus representing, in accordance with the law, 10% of the gross minimum wage in the country, which will be increased at the same date to RON540 per month, the Romanian Traffic Police announced…