Bucharest Stock Exchange Head: neither investors, nor the population should panic due to the decision to suspend the stock

Miercuri, 8 octombrie 2008, 16:49 English | Business

Bucharest Stock Exchange's President Stere Farmache declared on Wednesday in a press conference that nor investors neither the population should panic due to the decision to suspend all transactions today. The decision is solely meant to avoid panic moments and offer some time investors. He added that investors need some time think at least twice of their investment decisions.

Farmache declared that the measure taken was in accordance to regulations and the great majority of participants, societies and financial investors agreed with the stock's decision. Farmache added that currently in Romania the exchange rate is favorable as compared to other European countries.

He confirmed that there's no reason to panic as Romania's economy still registers high levels of development. Moreover, the financial system is a solid one, he confided. However, he declared that investors should manifest prudence in taking decisions.

Farmache added that the stock exchange would probably be opened again. Moreover, he said that Romania is an emergent market that definitely feels all international shocks.