Romania cannot be an island of tranquillity in an ocean of disasterPublish date: 17-10-2008
“We cannot be an island of tranquillity in an ocean of disaster,” said Prime Minister Calin Popescu Tariceanu in Brussels, during a press conference organized at the conclusion of the two-day European Council meeting. The head of government was issuing a warning about possible negative consequences of the international economic crisis on Romania.
“I want to inform you that the effects of the crisis are beginning to be felt in Romania as well, following the postponement to 2009 of the decision on the Voestalpine investment. This is the first element that has made itself glaringly obvious in connection with a series of major investment projects,” added Tariceanu.
Following the suit of stock markets around the world, Romania’s stock exchange dropped sharply in the first half of its session, although a rise in the second half brought indices back to stagnate.
The banking sector, which until now showed no signs of weakness, is trying to identify solutions to maintain a high level of trust among despositors. Radu Gratian Ghetea, President of the Association of Romanian Banks (ARB), yesterday proposed to the Minister of Justice, Catalin Predoiu, that any denigration of banks be punishable by the Penal Code.
- 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