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March 29, 2023

Lazaroiu: BNR has become a political player too

Sebastian Lazaroiu writes that the central bank has become a political player too, not limiting itself to “backing the politicians,” so that it’s possible for National Bank technocrats “to get some flak too,” because in politics “punches make no discriminations.”

“When they needed technocrats in order to change the government’s image politicians always resorted to the BNR pool. I don’t think they were wrong in doing so. They managed to give the government added credibility, at least from a public relations point of view. It’s possible that once they get down in the arena BNR’s technocrats will get some flak too. Because the game played in the arena is more like kick-boxing than tennis. Let’s see whether they have a good chin too. (…) Moreover, if BNR becomes a kind of wise men’s party we won’t even know whether Isarescu or Croitoru could be called “technocrat Prime Ministers” or “political Prime Ministers” (as some want in PDL),” Lazaroiu writes in a blog entry quoted by Mediafax. Lazaroiu also said that BNR was for a long time an institution that maintained its neutrality and often “backed the politicians” from behind the scenes. “It juggled with the exchange rate; it played with the monetary instruments in order to maintain a certain balance. In fact, many times it somewhat made up for the politicians’ lack of vision and especially for the lack of political will to implement structural reforms,” he pointed out.

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