President Basescu to address the interest rates practiced by commercial banks and the economic situation in a meeting with bank representatives

Miercuri, 3 iunie 2009, 9:46 English | Top News

Romania's President Traian Basescu will meet representatives of the National Central Bank, Romanian Bank Association and those of the most important commercial banks in Romania to address the latest economic issues. The most important issues on the agenda are banks' interest rates and the commitment of the main banks to finance their branches in Romania.

The meeting follows an official announcement made by PM Emil Boc saying that the there are 16 banks interested to join the First House program set up by the government, in which the government will guarantee for the credits young people will take up to buy a house. The program, Boc declared will impose a smaller initial installment and a significantly lower interest rate to the credit.