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Isarescu: Financial stability is a precondition to any economic growth
18.07.2013, 13:26 | Finance-Banks | 940 views
Financial stability is a precondition to any economic growth, and recession in Romania would have been much more severe, if the banking crisis were not avoided, said on Thursday, at a colloquy at the National Bank of Romania (BNR), Governor Mugur Isarescu. ‘It’s no use to talk of economic growth, if you do not ensure financial stability. Let us no longer play with the issue of financial stability, to expect Mrs Lagarde to come (Christine Lagarde, IMF Director General – editor’s note) to Romania, to make a miracle. If miracles are needed, I invite the media to go to Maglavit, tosearch for Petrache Lupu. We should stimulate employment, innovation, capital, not credits given one does not know where, not relaxing the prudential conditions’, said Isărescu. The BNR official stressed that Romania has avoided a banking crisis during this period, certainly with international financial assistance, and not only financial. Read more on Financiarul.ro
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