On Friday, 17 October 2008, on his initiative, the President of Romania, Mr. Traian Băsescu, met with the Governor of the National Bank of Romania, Mr. Mugur Isărescu, the NBR Board members and the presidents of credit institutions operating in Romania. The meeting took place at the National Bank of Romania head-office.
Mr. Traian Băsescu talked about the issues regarding the global financial turmoil that were subject to debates at the European Council, organised in Brussels during 15-16 October 2008. At the same time, participants exchanged opinions on the recent developments in the banking system.
On this occasion, the soundness of the Romanian banking sector re-entered the focus of discussions, as well as the indirect effects of the global financial turmoil which have become to adversely affect the real economy.
The President has reaffirmed that the recession taking shape in the world economy and especially the likely events of the economic crisis in the EU Member States could hit the domestic economy as well unless the economic policies implemented by the Romanian authorities are sufficiently prudent.
Moreover, the President of Romania has underscored the importance of growing accountability of managers of financial institutions and the maintenance of a cautious stance in order to protect financial assets of both companies and households.
In this context, the President invited the banking community in Romania and the National Bank of Romania to enter a partnership with the Government for containing the potential effects on Romania of the global financial turmoil and for ensuring the fulfilment of the objective of euro adoption.