Romanian banking sources: pressure expected on exchange rate following fall of Boc Government

Marţi, 13 octombrie 2009, 19:45 English | Business

Representatives of Romanian banks who would not disclose their names have told HotNews.ro that the fall of the Emil Boc Government on Tuesday was to be expected and that the first effects would be seen on the exchange rate and delayed reforms.

"In times like this people would not know what to expect and go and buy euro, which gives a bad signal about [Romanian currency] leu", one source said.

Other sources said they would expect the national bank to intervene and protect the exchange rate. And they said that while in Western countries once a government falls another comes in with a known political program, in Romania things are different". "Nobody knows anything - who comes in, what their program and what their plans for the future will be".