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October 1, 2020
BUSINESS

After two years of recession, “state of apathy” to follow in 2011

Two years after the official start of the world economic crisis, Romanian businessmen and bankers point their fingers towards government officials and the National Bank of Romania (BNR). “I see a state of apathy, the situation will continue in a typical Romanian state of ‘this will do.’ I see marginal economic growth next year and I’m an optimist,” Florin Pogonaru, President of the Association of Romanian Businessmen, stated during the ZF Expert “Lehman Brothers – two years since the bankruptcy that ushered in the crisis” meeting organized on Wednesday by ‘Ziarul Financiar’ daily.


“The government and BNR are at fault for deepening the economic crisis in Romania. BNR did not guess the amplitude of the crisis, they (Central Bank officials – editor’s note) were still talking about an economic growth of 2 per cent in 2009,” Doru Lionachescu, main partner within the Capital Partners investments house, stated. Contacted by ‘Gandul’ daily, BNR Governor’s adviser Adrian Vasilescu stated that an even higher RON depreciation would have been “a grave error.” He explained that the Central Bank could not have intervened to depreciate the RON even further only to support exports that were losing ground at any rate, since the initiative would have disrupted imports too.


Dan Pascariu, President of UniCredit Tiriac Bank’s Administrative Board, considers that the collapse of the RON would have induced panic in society and customers would have had problems reimbursing the loans.

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