Debt restructuring in Greece might have a negative impact over Romania’s economy
A great part of those who offered a loan to the Greek state have branches in Romania as well and the decisions in Greece might affect their banks in Romania, economic analysts told HotNews. They admit that the impact of a possible debt restructuring in Greece might affect the European banking system and the branches of Greek banks across Europe.
If Greece will restructure its debt it might have a significant negative effect on Romania’s economy, ING Bank chief economist Nicolaie Chidesciuc declared for HotNews.ro. According to Financial Times, investors are worried about the impact over the banking system if Greece is forced to restructure the huge debts it has – about 335 billion euro. Scenarios advanced so far talk about a slight restructure and a tough one and in both cases the losses of the banks will be significant. Credit institutions own 22% of the total of the debt.