Mircea Geoana speaks up for dialogue in banking system

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Speaker of the Romanian Senate Mircea Geoana, Social-Democrat Mircea Geoana, spoke up on Wednesday, for dialogue among the representatives of the banking system and those of the Central Bank of Romania, on essential matters, such as the re-start of crediting for the real economy and for essential projects for Romania.
„The most serious problem is the massive exit of the foreign capital from Central and Eastern Europe. Investment funds went out, it is true, many of them were speculative – around 230 billion euros, a very big sum.
From the point of view of commercial banks, we had an understanding initialled in Vienna and reconfirmed in Brussels, saying that the crediting lines will be kept open in Central and Eastern Europe, Romania included.
The most serious problem is not a temptation of repatriation of the foreign capital, I believe that will not been done, this extreme cautiousness the banks in Romania have had as regards the crediting of projects in the real economy, to which a very high interest is added, is inhibiting, in fact.
A formula is to be found apt to show, in an open dialogue with the commercial banks in Romania, the re-start of crediting,” said Geoana in a press statement delivered at Forum Invest.
According to the speaker of the Senate, „this temptation of repatriation of the capital from the Romanian banks should be inhibited through a dialogue” trying the re-start of crediting for the real economy.
„I don’t believe in too vigilante versions. We are not at a state of war, we are in a state of cooperation. We are talking among serious people here and I don’t want to start from a premise of the ill-faith of some banks.
At this moment, we have to require both the central bank and the commercial ones that they do their duty they assumed when Romania borrowed 13 billion euros in order to help them to re-start crediting, ” said Mircea Geoana.
He voiced conviction that also the central bank, as long as it observes its understanding with the commercial banks, it will continue to diminish the mandatory minimum reserve.
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