Romania's banking system requires careful watch for liquidity shortage, finance minister says

Publish date: 01-10-2008
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Romania needs to be under alert and to carefully monitor its banking system for lack of liquidity in the context of the international financial turmoil, the country's Economy and Finance Minister, Varujan Vosganian, declared.

The banking market in Romania has so far been shielded from crisis by a mortgage market not so well developed and by a reduced assets volume, which represent only 60 percent of the gross domestic product (GDP).

"We need to watch the liquidities, especially when some international groups could restrict the liquidity of banks on the Romanian market," Vosganian warned.

But the financial turmoil hit the Bucharest Stock Exchange, after the investors left the markets. However, the foreign investments remained unaffected by the international market slump.

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