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Romanian state to intervene in case banks fail to re-launch credits

de Radu Rizea     HotNews.ro
Marţi, 24 februarie 2009, 14:27 English | Business

Authorities will offer supplementary funds for the capitalization of the state-owned CEC Bank and Eximbank, as well as for guarantee funds for small and medium enterprises, in case the banks fail to re-launch the credit offering operations, said the Romania Senate speaker, Mircea Geoana.

The lack of banks' financing may transform Romania in a credit desert, said Geoana. The target for the entire economy and the Central Bank, beyond protecting the national currency for the time being, must be the joining of the Euro currency zone, the official declared.


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