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RADOR: News from Romania, 00-05-30

The Press Agency of the Romanian Radio (RADOR Society) Directory - Previous Article - Next Article

From: RADOR Press Agency <http://indis.ici.ro/romania/news/rador.html>

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.


    The Press Agency of the Romanian Radio (RADOR Society) Directory - Previous Article - Next Article
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