





Romania suspends tax on stock market gains
"We had to choose between zero income for the state budget and a blocked stock market and zero income with a functional market", said Vosganian.
The reactions to the measures announced today are different. Ionut Popescu, former Economy Minister and editor-in-chief of the financial weekly magazine Capital says that the actions are good and will lead to the development of the stock market. Cristian Sima, international trader and president of WBS Holding, believes that the measures are "stupid", priorities being elsewhere, namely in the way heads of the Financial Investment Societies (SIFs) are named and replaced. "In any market, the managers of a fund that loses 80% in one year would have packed up and went home", says Sima, who argues that the 1% holding limit for SIF shares makes the replacement of managers impossible, due to a very dispersed shareholders group.