Romanians Return Cars To Leasing Companies

Publish date: 27-02-2009
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More and more Romanians return cars to leasing companies and if the unpaid loans will keep growing, the population will be affected, as the bank is only an intermediary, the central bank governor Mugur Isarecu said Thursday.

The external capital inflows became "less generous," but there were no withdrawals within the commercial banks, but on the leasing sector, Isarescu said in a press conference.
As regards lending, Isarescu said there is not a sole element on easing lending rules.
"If someone wants a loan and does not present any revenue, then…this period is wholly gone. (…) I want to sweep away the illusion of an ease on this unhealthy ground. We will no longer have what we had last summer," Isarescu said.
He said a bank is only an intermediary, and if unpaid loans would grow, the population would suffer, as they might pay the costs.
Isarescu reiterated that the currency's exchange rate lies on a sustainable ground.
The main reason of the currency's exchange rate trend is the habit of rising salaries above the productivity growth, Isarescu said, adding the productivity should be the main indicator in boosting wages.


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