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US Ambassador to Romania: The government used energy companies as piggy banks to address short term cash problems
31.03.2011, 12:22 | Energy | 856 views
The energy sector cannot be modernized as long as state companies are lead by inexperienced people, close to the political, US Ambassador to Bucharest Mark Gitenstein said on Thursday. He said that Romania needs 10 billion dollars to modernize the energy sector. According to the US official, Romania’s government used these state companies as piggy banks to address short term cash problems. He gave the example of Romgaz that was urged by the government to donate 100 million euro to the government to cover budgetary emergencies and government representatives were mandated to approve the request. Read more on Hotnews.ro
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