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May 23, 2022

BNR’s Governor: As economists, we are responsible to cover deficit of economic, financial analysis to avoid wrong interpretations

The economists have the responsibility to cover the deficit of economic and financial analysis or else exactly the wrong person comes along and covers the public space, poisoning the society with all kinds of nonsense, hard to backtrack, the National Bank of Romania (BNR)’s governor Mugur Isarescu told a specialised conference, on Thursday.

“You have and we all have, as economists, a responsibility to cover this vacuum, this deficit of economic and financial analysis. It also occurred because there is a communication principle, although we are not all communicators, we should know it, that in an empty, uncovered space, the wrong people come in. Therefore, the phrases I overhear from many of our colleagues, bankers included, “let them speak, because they don’t know what they say”, I don’t find it the most appropriate approach. Because they are covering the public space, they are poisoning the society with all kinds of nonsense, not to call it something else, and then it is very hard to backtrack on it,” Mugur Isarescu stressed.

The central bank’s governor mentioned the topic of the “gold deposits’ interest”, specifying that it held the attention of the public opinion for two years, a period in which it was broadcast.

“This disconnection from the life of the community, the life of the citadel, “well, they only talk, they don’t even know what they’re talking about”, this is not a good thing,” Isarescu concluded.

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