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What the newspapers say: July 12, 2010 

de A.C     HotNews.ro
Luni, 12 iulie 2010, 9:24 English | Press Review

All newspapers today read about Spain's victory against Netherlands which secured the World Cup title. Back home, the national currency recovered to the euro but for how long economists wonder. In politics, politicians announce early elections in 2011. In Europe, Romanians single out this weekend in various ways. 

All newspapers on Monday read about the new World Cup champion: Spain won against Netherlands with 1-0, Evenimentul Zilei reads. The Johannesburg match called for extra time to designate its winner. Iniesta, the Spanish player managed the winning goal. 

After winning the European title two years ago, the Spanish are the new world champions at football. The Spanish team broke the six consecutive wins of Netherlands in the World Cup in South Africa. 

In the semi-finals, Spain passed by Portugal, Paraguay and Germany with the same 1-0. 

Back home, the national currency gained ground to the euro but economists warn that a delay in economic recovery might weaken the national currency, Gandul reads. After the VAT shock, the exchange rate increased to a historic maximum of 4.3688 lei for one euro. 

Bankers on the other hand claim that the future of the national currency, on the medium term is good. Until the end of the year economists bet on a rate of 4.1 - 4.3 lei for one euro. However, economists warn that if Romania does not exit the economic crisis soon, the national currency will be weakened. 

Raiffeisen Bank Chief Economist Ionut Dumitru estimates a 3% economic drop. He adds that consumption will be reduced as a direct consequence of the revenue adjustment, the increase in unemployment rates and of the VAT. 

ING economists estimate a 3% GDP decrease while Oxford Economics put forward a 2.6% GDP decrease. 

In politics, Liberal Senator Varujan Vosganian declared that early elections will be called as in the Fall, possible shifts in the Parliament are expected as the Hungarian party is dissatisfied, Gandul reads. 

Vosganian said that the shock of budgetary cuts will be transferred to the political arena by early 2011. The Liberal leader added that shifts in the Parliament might lead to early elections. 

Elsewhere in the news, in Europe, Romanians make sure they are noticed by foreign authorities: four Romanians were arrested in France after stealing 3 km of electric cables, causing 120 TGV train delays, Gandul reads. 

They were arrested on Saturday night, at Ronchin, around 2 am local time, Romanian news agency Mediafax informs. The four Romanians were known of such vandalism which becomes preferred as the price of the copper increases. 

Also in Europe, a Romanian in Italy was arrested after threatening the conductor of a train towards Brennero with a sword, Gandul reads. The 29 years man seems to have been drunk. 


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