Financial Press Review, January 5

The daily Bursa comments on Adrian Vasilescu's yesterday statement: ‘this year will be tougher than 2010’. ‘We have to carry a battle on two fronts. First we must fight recession, second we must achieve budgetary balance.’

On the same subject, the daily Ziarul Financiar published an article signed by the BNR governor's counsellor with the title: ‘New Year's priorities’. ‘Regarding the population's income, even if banks gave more credits, wages would still be the main source of income.’
Work for producing competitive goods and services.

The Curierul Naţional opens today’s issue with the article: ‘Profitable businesses in 2011’. ‘Considering the context of the Romanian economy, but also the foreign markets' fluctuation, Romanians should consider investing in safer and more profitable sectors.

‘The safest sectors are the food industry, infrastructure and renewable energy, of course’, writes the daily. ‘Romania has a huge agricultural potential, but it is unexploited’, says Florea Pîrvu, chief of Employers Confederation of Romania. ‘If we produced at our full potential, we wouldn't need importing.

We wouldn't have to pay billions of euros for products we could make even better ourselves. On the other hand, rural investments require some incentives from the government, who should provide farmers with some decent irrigation and drainage systems.’ ‘As for the infrastructure, only our name bears the mark of the European Union’, said Pîrvu.

The Ziarul Financiar analyses the way ‘the Romanian state managed to get control of 60 percent of 3 and 4 nuclear reactors in Cernavodă, even though it desires less.
This happened when the Czechs from CEZ decided to drop their shares. The state's action was surprising since it repeatedly stated it wanted to give up some of the shares, since it did not have enough money, writes the daily.

The Curierul Naţional reminds us that in December 2010 the Minister of Economy informed that ‘there were negotiations with companies for partnerships to construct reactors 3 and 4 after the CEZ left’.

‘Crucial BNR meeting: if credits become cheaper, the economy could recover.’ BNR will consider today key interest rate in Lei, which has been 6.25 percent ever since May last year.

Undertakers ask for lower interest rates to relaunch consumption.’

The daily reveals that ‘governor Mugur Isărescu has repeatedly been disapproval of lowering key interest rates because of the risk of market plays against the leu’ and quotes various bankers who consider that ‘monetary policy should continue being preventive.’

Translated by: Ciocănel Tudor
MA Student, MTTLC, Bucharest University