Romania political row may deter investorsPublish date: 30-03-2007
The U.S. envoy in Bucharest warned Thursday Romania's political problems could deter foreign companies from investing in the Balkan country. U.S. Ambassador Nicholas Taubman, addressing the American Chamber of Commerce in Bucharest, said the current political turmoil spread doubts outside Romania whether it is appropriate to invest in the country at this moment.
Romania became a full member of the European Union Jan. 1, and any slowdown in its political and economic reforms could discourage foreign investors.
Political analysts say the ruling coalition in Romania is near collapse as serious rifts have developed over the past months between President Traian Basescu and Prime Minister Calin Popescu Tariceanu. Basescu claims Tariceanu is trying to influence judiciary officials, while Tariceanu says Basescu is trying to grab too much political power.
The governing coalition is composed of Basescu's Social Democrats and Tariceanu's National Liberal Party, each with roughly equal voting strength in both houses of parliament, virtually blocking the work of the government and parliament.
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei