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Romania's Central Bank governor Mugur Isarescu: I was shocked to hear comparisons between Iceland and Romania

de A.C.
Miercuri, 4 martie 2009, 11:16 English | Top News

Romania's Central Bank governor Mugur Isarescu talks about the financial and economic crisis and a possible recession at a National Statistics Institute seminar. Romania's risk is to feel tired when the actual effects of the crisis will appear, Isarescu said.

He added that it was important to remember the characteristics and the effects of the financial crisis in Romania. The real danger is to feel tired when the actual effects would show, he warned. Isarescu declared that  in the last six months Romania was associated with various groups of countries and the first shocking comparison was with Iceland.

Here are some of the most important declarations:

  • I do not think it is fair to compare Romania with other countries
  • We all know that during financial crisis, influential areas tend to change
  • Romania's reserves are not enough, judging after the short term commercial debt created by the commercial banks in their struggle to obtain some market quotas
  • Currently, there is no lack of liquidity on the market

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