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What the newspapers say: October 6, 2008

de A.C.     HotNews.ro
Luni, 6 octombrie 2008, 1:57 English | Press Review

As fall parliamentary elections approach, Romanian President Traian Basescu criticizes the government, newspapers read on Monday. Elsewhere in the news, Romanians are to face new generalized price increases by next year. Last but not least, medium sized real estate companies in Romania are paralyzed by crisis.

All newspapers today read about Romania President Traian Basescu's attacks as he finds another reason to criticize both the Government and the Parliament for their lack of responsibility towards Romanians living abroad. Cotidianul reads that Basescu criticized the two institutions for decreasing the budget allocated for Romanians living abroad, after returning from the first congress reuniting representatives of Romanians across Europe, US and Canada.

Moreover, he underlined that Romanian expats send back home 7 billion euro that balance the national budget. Basescu did not miss the opportunity to accuse divergent political parties of boycotting his speech at the congress.

Basescu urged the government to take responsibility in regards to its duties to Romanians living abroad and underlined that the congress did not have the support of the government. Nonetheless, Basescu declared that the government fails to respect the laws and obligations and promised that after this fall elections, he would fire all consuls who proved their incompetence.

Evenimentul Zilei reads that Basescu's political party, the Democrat Liberals (PD-L) transformed the congress into an electoral meeting. Hundreds of participants with caps, flags and orange (the PD-L color) t-shirts with the party's logo mobilized nearby to greet Basescu.

Elsewhere in the news, Gandul reads that Romanians will face a new generalized wave of price increases by 2009 as the Romanian currency loses significant ground in front of the European currency.

The newspaper informs that the price increase will exceed 13%  which will be felt by both producers and buyers. The main cause of this trend will be the recalculation of the excises for fuel and other commodities that will lead to a steady increase in all prices.

Romalimenta president Sorin Minea declared that if the Romanian currency continues to lose ground in front of the euro, prices will continue to increase as food products in Romania are mostly imported. Romania's Ron witnessed its worst quotation to the euro in the last three years, amounting to 3.8720 Ron for 1 euro.

Last but not least, middle sized real estate companies in Romania are paralyzed by crisis, Romania libera informs. Thus, real estate companies can choose to declare their bankruptcy, to suspend their activity or seek a stronger partner.

Real estate experts declared that real estate companies are compelled to diversify their services. Thus, those located in West Romania focused on Hungarian real estate properties in order to escape the freeze.

In Bucharest alone, real estate transactions dropped by 40% and thus only those professional and flexible real estate agencies will be able to make it through the crisis.






















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