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Creating A Fiscal Framework, Sole Advantage Of Romania – Ctrl Bk Adviser

The sole advantage that Romanian authorities try to build up for the country’s recovery from the financial crisis is setting a fiscal framework on three or four years that will go together with the monetary policy, Lucian Croitoru, the adviser of the central bank’s governor, said Tuesday.
Bogdan Neagu
31 mart. 2009, 19:51, Economic

“Trichet said the euro area has three main advantages to recover from the financial crisis: the sole currency, the medium-term monetary policy framework with stability engagements, and the large medium-term opening,” Croitoru said at the seminar “Mediafax Talks about Business Solutions to Crisis.”

According to him, until now Romania has none of these advantages.

The central bank official said that Romania’s current vulnerabilities are the great indebtness degree and the currency that can be attacked anytime.