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Romania's National Bank Governor Mugur Isarescu: Romania has some of the best liquidity and reliability rates in the world/ The informational attack against Transilvania Bank finds precedent in a similar attack in 2000 but mass media reacted in a more mature way

de A.C.     HotNews.ro
Luni, 13 octombrie 2008, 18:20 English | Business

Mugur Isarescu
Foto: AGERPRES
Romania's central bank (BNR) governor Mugur Isarescu reaffirmed on Monday the reliability of the country's banking system, declaring that Romania has some of the best liquidity and reliability rates not only in the region, but also in the world. Isarescu stressed the fact that the banking system is very solid. 

Romania's governor underlined the stability of the banking system by firmly denyed all rumors about a presumed financial crisis. Isarescu declared that even though Romania was impacted by the crisis, there are no direct effects to be feared.

Isarescu added that the banking system is solid and there's no liquidity crisis on the market. Moreover, it was the first time that Isarescu talked about a informational attack against a local bank, Banca Transilvania. He said that rumors related to the bank were not true and reminded of a similar attack, in 2000. However, Isarescu admitted that this time, mass media was more mature in addressing the issue.

Referring to the national currency's depreciation, Isarescu declared that the central bank does not want to intervene in the market and stressed that it is the market that needs to stabilize while the central bank should monitor the market's conditions.

The governor declared that the central bank took the decision to intervene in the market because "things looked weird and they still do". Nonetheless, he added that economists or other public figures must restrain from spreading panic on the market.






















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