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Central Bank Governor: 2011, not an easy year in terms of BNR decisions

2011 will not be an easy year in terms of decisions, said on Thursday Romania's National Bank Governor Mugur Isarescu, on a private TV station.

'2010 was a difficult year for the central bank, nor 2011 will be an easy one in terms of decisions, because many decisions will require us to consider many factors and objectives. Our main objective remains price stability and financial stability in 2011', stressed Isarescu.

He added that the central bank gave less optimistic messages, even when in the Romanian economy 'big numbers' were invoked.

'Then I made a comparison that has generated a kind of essay ... that we are in danger of drowning in a barrel of honey, and now the situation is more dangerous. The danger is to go on arid lands in terms of the money flow, and in case that we fail to strengthen credibility, we risk to go the other way, to be confronted with the drought. (...) Even if there is money in the world (...) you can be a country where the money does not go through, and you could face a severe drought. This risk arises in any country that does not comply with a financial discipline and scare investors ', said the BNR Governor.

In his view, Romania was confronted with this situation and less with the capital outflows.

Isarescu warned that, if in 2011 direction is changed, 'it would not take long to go back to the situation in 2010'.

'I am absolutely sure, we have no chance to get out quickly of this situation and we should also prove perseverance. Any slippage, even verbally, will be taxed', said the BNR governor.

Sursa: http://www.agerpres.ro

Tags: decisions bnr terms governor central

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