Financial Press Review, 22 June

The Ziarul Financiar writes: "According to analysts, Romanian currency has no serious reasons of instability", "in the hope that on the long run the problems Greece is facing will be solved".

"The depreciation of the Romanian currency might be only temporary".

The same daily writes that "Greek-controlled banks have returned with generous offers for deposits, paying interests of over 8 percent a year on RON-denominated deposits and of 4 percent a year on Euro deposits.

This is the first visible sign that they need more arguments to persuade their clients not to move their deposits elsewhere given the image problems generated by the Greek crisis."

"Is food crisis knocking on our door?", the Bursa wonders on the first page.

"When will food crisis hit Romania?1, the Curierul Naţional also wonders.

"Our country is facing an alarming food price increase following the destruction of the national agriculture and the massive imports", the daily quotes the vice-president of the Alliance of Romanian Employers’ Confederations, Dan Matei Agathon.

"People have less and less money for the daily food basket", the Curierul Naţional writes.

The same daily publishes an article entitled "As you were: military pensions will be recalculated".

The Curierul Naţional quotes among others the opinion of the UDMR representative, Kerekes Karoly, according to which the law adopted yesterday by the Chamber of Deputies "provides the recalculation of the pensions of the “torturers” and of the secret military police employees and the diminishing of the pensions given to those who have fought for democracy".

Under the headline" We are poor, but we choose expensive medicine", the Curierul Naţional notes in an article that ‘Romanian people would rather buy expensive genuine medicine, although they have cheap alternatives, especially because there is a tradition of general pharmaceutical products and people still consider that the genuine medicine is the best’.

In the România Liberă, financial analyst Ilie Şerbănescu publishes an article entitled "The ridiculous providential year 2013!".

After the austerity programme implemented in 2010, known as the most drastic European programme, the election perspective in 2012 is already leading to financial shenanigans that would normally make one laugh.

Of course, if this situation would not be so pitiable! Since it is obvious that there are no sufficient resources to recover the damages of the programme, all the recoveries, some presumptive and others compulsory (such as the ones decided in a court of law), are being carried forward to the next period of time, starting in 2013’, and therefore "2013 is seen as the year when Jesus will return with his hands full".

For now, according to the Bursa, "The state budget deficit is twice the size of the one reported".

We would be talking about "lying when drafting public papers", the daily claims.

Translated by: Raluca Mizdrea
MA Student, MTTLC, Bucharest University