Greece is caught in a vicious circle of insolvency, low competitiveness, and increasing depression, says Professor Nouriel Roubini, the president of Roubini Global Economics, in article published by Financial Times.

European banks must consolidate their balance sheets, said the president of the European Central Bank (ECB), Jean- Claude Trichet, in an interview with Spanish daily Expansion, quoted by Reuters.

Yesterday night, the Greek cabinet was going to participate in a new teleconference with the officials of Greece"s international creditors, after its members announced on Monday that the previous teleconference had been "productive".

The price of gold rose yesterday, as investors were concerned over the sovereign debt crisis in Europe.

Bank of China, one of the largest state-owned commercial banks in China, has interrupted forwards and swap transactions with several European banks, due to the sovereign debt crisis in the Eurozone, sources close to the situation said, as quoted...

Ratings firm Standard & Poor"s (S&P) cut Italy"s credit rating by one notch, from "A+" to "A", with a negative outlook, due to the deterioration of the country"s economic outlook, which threatens the...

"Siemens" AG, the largest European provider of engineering solutions, has withdrawn in the first month of July, deposits worth over 500 million Euros from French bank "Société Générale", transferring them to the European Central...

The Ministry of National Defense may take over several assets owned by Romarm at the Cincu shooting ground, in the county of Braşov, where the institution owns a military base.

The news of a cooperation between the "Angst" group of companies and major retailer "Carrefour", which has been discussed in the press, is not being fully denied, nor confirmed by the two potential partners.

The Conservative Party has decided to run by itself in the local elections of 2012.

Reporter: Dear Mr. Gabriel Ghelmegeanu, what is your review on the visit of the Romanian authorities in China?

On Friday, Valentin Lazea, chief economist of the National Romanian National (NBR), said that Romania had an economic crisis, not a financial one, said Valentin Lazea on Friday.

Over the last few days, sunflower oil maker "Argus" Constanţa (symbol: UARG) has turned into a battlefield, on which businessman Cătălin Chelu, who controls about 44% of the company faces SIF "Oltenia", with a stake of 32%.

Sberbank rules out the acquisition of a European bank facing problems, but is watching the Romanian market to expand its presence in Eastern Europe, said Anton Karamzin, the CFO of the largest banking group in Russia.

When a journalist from BURSA goes to Mediaş, it either means that "Romgaz" is going public, or "Transgaz", is being privatized, or something else related to natural gas is happening.

Tudor Caranfil says that Communism left Romanian with the equipment of an impressive movie industry and just a few movies: "The forest of the hanged men", "The cruise", "The Dacians" (a blockbuster which was competitive on...

If the Eurozone collapses, then we will see a war on the continent in the next ten years, Polish Finance minister Jacek Rostowski, said, according to euobserver.com.

Costel Ceocea, the president of SIF "Moldova" (SIF2), yesterday decried the lack of solidarity of the SIFs in their talks with Erste, and said that if they had negotiated together, they would have received a better offer.

The Austrians of "Erste Group" (symbol:EBS) have announced that they have signed a principle agreement with four of the five financial investment companies (SIFs) in order to buy their 24.12% stake in BCR in a deal worth 435 million...

Using the homes that borrowers live in as collateral for mortgages will be extremely important, Adrian Vasilescu, advisor to the governor of the NBR said yesterday.

The shareholders of Bitdefender are still reviewing taking the company public, but this may take place in 2012, when the company will have a "greater value", said the president of the Softwin group of companies, Florin Talpeş.

• Angela Merkel says she won"t allow Greece to enter into an "uncontrolled default"  

The Ministry of Public Finance (MFP) only took into account a small number of the amendments to the fiscal code proposed by foreign investors, even though most of them were considered reasonable, and the consultation process was underwhelming,...

Banca Comercială Carpatica (BCC) launched the "Rădăcini" ("Roots") loan, intended for financing the purchasing of agricultural land, as well as for the rehabilitation of land for agricultural purposes, the BCC announced yesterday...

The shareholders of Altur Slatina, specializing in the manufacturing of parts and accessories for cars and engines, have approved the contracting of a credit facility of 14 million lei from Raiffeisen Bank, with the money to be used for the...

Between 2011 and 2012, the Turceni Energy Complex will be running a restructuring program which stipulates cutting labor costs, said Octavian Graure, the General Manager of the Complex.

Even now, in the midst of the economic crisis, the car and car parts industry still offers business opportunities for foreign investors, allowing them to get good profit margins, the officials of the Romanian Center for Promoting Trade and...

The sale of the mines of SC "Moldomin" SA was blocked by the National Tax Administration Agency (ANAF), Sorin Găman, managing director in the Ministry of the Economy, Trade and Business Environment (MECMA) said yesterday, at a mining...

• Former president of the Proprietatea Fund: The money will run out soon 

The state intends to sell the mines of "Cupru Min" by the end of this year, Claudiu Stafie, secretary of state in the Ministry of the Economy, Trade and Business Environment (MECMA), present at a conference on mining related issues,...

"Vimetco", "Enel" and "Alro Slatina" are three of the five companies which acquired tender books for the construction of a 500 MW energy generation unit in the Rovinari Energy Complex, Tiberiu Trotea, the general manager...

The domestic football clubs playing in the European cups could lose millions of Euros this autumn and could see their reputation seriously damaged because of the awful grass of the National Arena stadium.

The shareholders of Ropharma have approved the conversion into stock of a debt of 1.8 million Euros into shares in Ropharma Distribution.

Last year, the BURSA newspaper was the first to disclose the cases of the energy producers (the complexes of Craiova, Turceni and Rovinari) which skirted the law by selling energy to consumers directly instead of via auctions, as they are...