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BNR governor Mugur Isarescu: Situation is quite complicatedUpdated: 10-05-2010 | Financial and Banking

The situation is "quite complicated", especially since Romania cannot afford to ignore the economic context of the region and the risk of a quick impact of the financial crisis in Greece, governor of the Romanian National Bank (BNR) Mugur Isarescu on Monday said, after the meeting with members of the Senate Standing Bureau.

"The situation is quite complicated, and I am not talking only about Romania, but of the bad economic situation in the entire region. We cannot neglect this context; we cannot ignore the quick impact that might hit us. This is a characteristic of the financial crises, they just outburst and then follow the violent moments," said Isarescu.

Governor Mugur Isarescu specified that on Monday he provided to the Standing Bureau of the Senate a more complex analysis on the content of the "additional agreement" with the IMF, concerning the responsibilities of BNR - financial stability, payment of the state dues in the next period, the evolution of course, possible changes in interests, financing of the deficit, "all on the background of a tense global and regional context".


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