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RADOR: News from Romania, 00-05-30
May 30, 2000
CONTENTS
[01] Statement of President Emil Constantinescu regarding the situation
unleashed by the crisis at the FNI - National Investments Fund
[02] Prime Minister Mugur Isarescu decided to set up government committee
which should make inquiries into the situation of the FNI
[03] BCR - Romanian Commercial Bank - can pay back any amount of money
demanded by the investors
[04] Interbanking market of Romania is calm
[05] CALENDAR
[01] Statement of President Emil Constantinescu regarding the situation
unleashed by the crisis at the FNI - National Investments Fund
On Monday afternoon president Emil Constantinescu made a press statement
referring to the situation created in the wake of the FNI - National
Investments Fund - crisis. The president who was quoted by RADIO ROMANIA
ACTUALITATI said that because of the seriousness of the situation, by the
negative implications in the life of the people and by the propagation of
mistrust in financial - banking institutions he decided to make immediate
decisions. The Head of State asked the Romanian Information Service to
assess the situation from the point of view of risks that might affect
national security. At the same time the President asked the Home Ministry
to start speedy inquest of the situation created in the non banking
sectors and added that the Cabinet must strengthen immediately, by
emergency Ordinance, legislation in the domain of mutual funds and other
nonbanking financial institutions. President Constantinescu also asked
police to find the responsible persons that facilitated illegal payments
after the FNI declared it would not longer make payments in order to
protect investors.
[02] Prime Minister Mugur Isarescu decided to set up government committee
which should make inquiries into the situation of the FNI
This is what counsellor Mihai David said after telling media that the
Prime Minister has made extensive analysis of the situation and said that
each person implicated must answer for his or her deeds. Law must prevail,
added Prime Minister Mugur Isarescu.
[03] BCR - Romanian Commercial Bank - can pay back any amount of money
demanded by the investors
Counsellor Adrian Vasilescu said that in the wake of the fact that a
number of people are calling up investors and persons that deposited their
money with the Romanian Commercial Bank urging them to draw their money
back as the BCR could go bankrupt. Mr. Vasilescu said that BCR is one of
the most powerful banks of the country and has a complex of facilities,
both assets and funds with which it could face any situation. The
counsellor of the Prime Minister said that panic of FNI would not be
propagated into the banking system as deposits guaranteed by the state are
sure. In the case of the funds of investments the situation is more
complex and each and every bank has its own specific characteristic
features, reports RADIO ROMANIA ACTUALITATI.
[04] Interbanking market of Romania is calm
Dealers of the interbanking markets confirmed to the newsroom editors of
RADIO ROMANIA ACTUALITATI that the interbanking market is very calm; thus
the lei - USD rate is of 20,651 lei for one USD on Tuesday, which is 28
lei more than on Monday, interest rates are slightly increasing as every
end of the month because banks are interested in the setting up of a
mimimum reserve which is compulsory.
[05] CALENDAR
In Bucharest, in the interval 30 May - 1 June, the secretary general of
the European Parliament, Julian Priestley, is meeting with the general
secretaries of the parliaments of the 12 countries that are candidating to
membership of the European Union.
Press Conference on the occasion of the Romanian visit of the military
delegation of Italy led by general Francesco Cervoni.
Press Conference of the Governor of the State of Maryland, Parris
Glendening, at the American Cultural Center, today.
Official launching of the project for the development of Romanian
agriculture, a project which is financed by the World Bank and the
Government of Romania.
Anniversary of the World Vision after 50 years of activity in the world
and 10 years of activity in Romania with the awards for civil journalism.
ROMANIAN RADIO BROADCASTING CORPORATION invites all those interested to
attend the launching of the latest CD of Ducu Bertzi, a collection under
the title MY SOUL, at the Press Center of the ROMANIAN RADIO BROADCASTING
CORPORATION, at 14:00.
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