National Press Review

"The perfect financial storm predicted by Roubini begins", the Adevărul. writes.

"Stock market crashes, U.S. debt crisis, panic in Europe: all these signs show how right Nouriel Roubini, the half American half Turk Nobel award winner that predicted the global recession, in saying that in 2013 the global economy will be confronted with a perfect financial storm."

It is not clear when the sun will come up again, but according to the conclusions of the Adevărul no economy caught in the whirl is impermeable.

The journalists underline that: "Italy is forced to take austerity measures earlier than they have planned to," stock markets are crashing one after another, a phenomenon that is extending in Dubai or Saudi Arabia, the dollar is dropping and banks lend money with higher interest rates.

The România Liberă analyses the genuine economy and proposes readers an interview with Mihaela Fîrşirotu, Associate Professor of Strategy at the School of Management, University of Quebec in Montreal, Canada. The economy expert has foreseen the worldwide crisis and has stated that: "A strong economy relies on its own great national companies, because when there is no genuine capital, only the state can cope with such a challenge." The conclusion of the interview granted by Mihaela Fîrşirotu: "Romania shows all the signs of a major crisis."

The Jurnalul Naţional also writes about the hot weekend that has just ended: "Second wave of global crisis." "The U.S. rating decline and the fears of debt crisis in Italy and Spain have led to a financial market chaos."

Apart from the general findings, the Jurnalul Naţional poses the same question: "How vulnerable is Romania to the new crisis?", but the question cannot be firmly answered, not even by the quoted experts.

The opinion of the economic analyst Ilie Serbanescu is quoted: "We are vulnerable because we have our own problems, but a direct link cannot be established." Or... in other words, "(…) in our country the crisis has stronger or weaker consequences depending on the external situation".

The Evenimentul Zilei also writes about the historic weekend: "Saturday Record: 100 000 people took pictures of the stadium." The final data of an over EUR 200 million project were presented: "55 000 seats, 94 gates, height of a ten-storey building" and other technical figures of the new arenas that are finally placing Bucharest on the civilized Europe map. "The visitors who went to see the National Arena left no mess behind, but... took the balloons home", the daily highlights. People went to marvel at normality. We have an elite stadium... but we lack a National Football team.

Translated by: Iulia Florescu
MA Student, MTTLC, Bucharest University