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BNR: Indirect effects of the financial crisis are felt in the real economy

At a meeting on Friday of BNR leadership and President Traian Basescu, the solidity of the Romanian banking systems was reiterated and it was shown that the indirect effects of the ongoing world financial crisis are starting to be felt in the real economy of the country, reads a release issued by the BNR at the end of the meeting.

'Upon the initiative of Mr. Traian Basescu, Romania's President, the BNR main office hosted a meeting attended by BNR Governor Mugur Isarescu, President Basescu, members of the BNR Administration Board and chairmen of Romanian credit institutions. At the meeting, the President presented the issues related to the world financial crisis tackled at an October 15-16, 2008 meeting of the European Council in Brussels. At the same time, opinions were exchanged on the latest developments in the local banking system. Once again, the solidity of the Romanian banking system was reiterated, and the fact that the indirect effects of the world financial crisis are starting to be felt in the real economy of the country,' reads the release.

President Basescu is quoted as saying the recession looming ahead in the world economy and, particularly, the economic crises in the member states of the European Union, can directly affect Romania if Romania's economic policies fail to be prudent.

Basescu is further quoted as saying it is important that responsibility on the part of managers of financial institutions be strengthened and a prudent attitude be followed to protect the financial resources of the companies and people.

In the same context, Basescu called on the Romanian banking community and BNR to enter an economic partnership with the Government in order to contain the potential effects of the world economic crisis on Romania and make sure the objective of Romania's switching over to the single European currency is achieved.

 

Sursa: http://www.rompress.ro

Tags: meeting president basescu world economy crisis indirect effects financial bnr