The Bucharest Stock Exchange (BVB) and Sibex should merge, and the resulting company should be taken over by a developed stock exchange – a move that would boost investors’ confidence in the Romanian capital market, the president of the Private Pensions System Supervisory Commission (CSSPP), Mircea Oancea announced in a press conference organized by Wall Street.ro and BVB, quoted by Mediafax. “I think the Romanian stock exchange has beeen privatised too early; first it should have been allowed to grow up. Now we are seeing some pride that is not beneficial for the Exchange. We are chasing our tail, but investors – pension funds included – need confidence, positive expectations,” he said. In order to support the development of the capital market, the state should scratch the shareholding limit of 1 pc of a financial investment company (SIF), he added. According to Oancea, the Public Finance Ministry (MFP) should issue state bonds of a lower value, exclusively addressed to population. MFP could also negotiate with Pension Funds favourable interest rates for both sides, during state bonds auctions.