The governor said that in the past century, the movements of capitals are unavoidable. in 2009, we are at the end of a long cycle of forty years. These cycles of growth and decrease are unavoidable.
We are at the end of a cycle long of forty years. These cycles of movement of private capital affect the countries with an open economy.
When we talk of a crisis, like in medicine, we have to set a correct diagnosis (…) What we, the authorities can do (…) is to is to soften and not to annul the difficulties,” said the governor of the Central Bank.
In Aula Magna of Alexandru Ioan Cuza university of Iasi, academician Mugur Isarescu also delivered a speech titled „Financing and adjustment in the economy of Romania”, aimed at the ways effects and communication regarding the crisis, also presenting ways to soften the impact of the international economic crisis on Romania.
„We do not intend to stop the crisis at the border, but only to soften its movements, Isarescu said, speaking about the crisis felt in the past year as an unavoidable and natural influence of the economic crisis.
Mugur Isarescu was born on Aug 1, 1949, in the town of Dragasani, Valcea county. He graduated in 1971, the Faculty of Foreign Trade of the Academy of Economic Studies of Bucharest. From Sept 1990, he was the governor of the National Bank of Romania. On Dec 16, 1999 he became the prime minister of the Government of Romania.
The government he led drew up an economic strategy of accession of Romania to the European Union.
In the year 2001, he was elected corresponding member of the Romanian Academy, becoming in 2006, full member of the Romanian Academy. He currently is president of the Department of Economy, Sociology and Legal Sciences of the Romanian Academy.
Mugur Isarescu received a Doctor Honoris Causa doctorate of the University of Craiova (October 2003, of the University of Pitesti (December 2006), of George Bacovia University of Bacau (Aug. 2007), and of Babes Bolyai University of Cluj Napoca (Feb 26, 2009).
On Feb 2, 2007, Romanian president Traian Basescu gave him the Order „The Industrial and Commercial Order, Officer rank, for the most spectacular period of growth after the Second World War, an occasion on which, the entire Administration Council of the Central Bank was decorated.