English Section

30 octombrie 2019

Can the Eurozone be saved after it's been "saved" by Mario Draghi?

When I read that "Mario Draghi declared victory in the battle for the euro," in an interview with the Financial Times, I remembered how people used to complete the expression the "victory of socialism" before 1989, by adding "...against the Romanian people."

FOUR DECADES OF ATTEMPTS, ONE COMMON GOALBrexit - the final week

After two years of heated discussions, controversies and high-level resignations, the Brexit saga seems to be nearing the end. The outcome of the UK is decided this week, with laborious discussions being scheduled between the British officials and those of the European Union, in an attempt to reach an agreement on the "divorce". 17 before the exit from the Eurobloc, UK PM Boris Johnson seeks to convince the European officials concerning exit of the UK from the EU bloc, on October 31st. On November 13th, Johnson presented his political platform during the traditional speech of Queen Elizabeth the 2nd - which marks the beginning of a new parliamentary session.

The PSD-dominated Olt river floods Victoria Palace

Apparently, Viorica Dăncilă changed her mind on expelling Paul Stănescu, the leader of one of the most powerful county organizations of the Social democrats: "I consider all my colleagues act on good faith. They will prove that they were wrong, when the vote of no-confidence comes".

The NBR's ultimate monetary policy: prayer

When you've painted yourself into the corner, by ignoring the mistakes of monetary policy, yours and those of others, the only "effective" measure remains prayer.

Tokyo stock exchange "courting" Aramco for the international IPO

Tokyo Stock Exchange wants to persuade Saudi oil giant Aramco to list its shares on this market as part of its international component of its future IPO.

THE PUBLIC DEBT OF THE UNITED STATES HAS REACHED A NEW RECORD IN THE 2019 FISCAL YEAROne trillion, two trillion, tens of trillions

The US public debt has reached 1 trillion dollars in the fiscal year which ended on September 30 1981, after increasing by about 81 billion compared to the previous year.

The theory of group rape: with citizens being the ones getting raped, as a group

Monica Melencu, mother of Luiza Melencu (victim of Gheorghe Dincă, in the Caracal case), has been fined 5,000 lei for once again refusing to allow the taking of DNA samples, which she has been ordered to do by court ruling; scared by the fine...

IN THE EURIBOR MANIPULATION CASEHSBC escapes a fine of 33.6 million Euros

HSBC Holdings Plc, the biggest banking group, was partially exonerated in a case of manipulation of the Euribor, as the European General Court decided to revoke the fine of 33.6 million Euros levied upon the lender.

Swiss Franc beating the 2015 record

More than four and a half years after the explosion of the Swiss franc, (CHF), after repeated protests by debtors, wide scale debates in the Parliament, concerning draft laws on the matter, promises by politicians and banks that they would...

THE BSE FIGHTING GRAVITYThe Romanian stock market - to be or not to be emerging

• Claudiu Cazacu: "If we rule out the possible influence of other stress factors for the markets, within a 6-12 months period, a favorable decision could lead to two-digit gains for the BSE indexes"

• Dragoş Cabat: "Once the...

NEARING BLACKOUTThe electricity crisis is taking us back to the communist era

We are very near to going back to the way things were in the communist period, when electricity was being cut off voluntarily due to the insufficient supply, specialists in the market are saying in unison.

"A new type of sapiens populates the planet"

• (Interview with Paolo Benanti, professor of technology ethics, the Gregorian Pontifical University)

Massimiliano Cannata: Professor Benanti, what else should we know about artificial intelligence so that we overcome our current...

HOW BIG IS THE PANIC AT THE AMERICAN CENTRAL BANK?The Federal Reserve has lost control of the policy rate

The most important central bank in the world is trying to find out what has happened last week, when interest rates on the repo market reached intraday all time high, of approximately 10%, even though the surplus reserves in the banking system...

The appointment of Kovesi as EU chief-prosecutor is now a matter of mere formality

In spite of - or perhaps because of the opposition of the power in Bucharest, Laura Codruţa Kovesi got the support to become the chief-prosecutor of the European Union (EU).

The expansion of the loan and deposits portfolio - the main benefit of the merger between Patria Bank and Banca Carpatica

• (Interview with Daniela Iliescu, CEO of Patria Bank)

Reporter: What is your view on the banking market, at this time, and what do you think the future will look like?

Daniela Iliescu: The banking industry in Romania had an...

"Without Government Emergency Ordinance 114, the investment decisions for the Black Sea would have already been made"

DEPUTY VIRGIL POPESCU, VICE-PRESIDENT OF THE INDUSTRIES AND SERVICES COMMISSION:"Without Government Emergency Ordinance 114, the investment decisions for the Black Sea would have already been made"

The lack of legislative predictability and instability have caused investors not to make investment decisions concerning the extraction of natural gas in the Black Sea, says Virgil Popescu, vice-president of the Commission for Industries and...

SEPTEMBER: THE TENTH TODAY, 11TH JUST COULD BE ANYDAYTaliban threatening to kill Americans

The Taliban threatened the United States that they would "make them suffer more than anybody else", after the sudden decision of American president Donald Trump to break up the negotiations concerning the end of the Afghanistan war....

Dropping yields give investors cold feet

Revenues of the biggest investment banks in the world have been dropping constantly, reaching a 13-year low in the first half of 2019. According to Financial Times, this drop came as a result of the geopolitical tensions, the slowing growth and...

Iohannis shakes hands with Trump, Tăriceanu with Ponta and Dăncilă is left with hers hanging

The breakup of the coalition, the meeting in the White House between Klaus Iohannis and Donald Trump and the IMF report concerning the outlook for our economy are the most important events which took place in August, that concern Romania's...

DEEPENING OF THE POLITICAL CRISIS IN GREAT BRITAINElections or hard Brexit?

• Mark Blyth: "Jeremy Corbyn wants to destroy Thatcher's party"

• The pound, below the 1.2 dollar level - the lowest point since October 2016

A new conflict on the dilemma of the Brexit is taking shape, this time between...

Announcement for the extension of the submission deadline for participating in the audit tender process according to Article 16 of EU Regulation 537/2014 on specific requirements regarding statutory audit of public-interest entities

ADVERTORIALAnnouncement for the extension of the submission deadline for participating in the audit tender process according to Article 16 of EU Regulation 537/2014 on specific requirements regarding statutory audit of public-interest entities

Following the invitation published on 1 August 2019, regarding the selection process of the financial auditor for the annual individual and consolidated financial statements of OMV Petrom SA ("OMV Petrom") and its subsidiaries, for the...

"Romania could very well implode due to so much stupidity"

Reporter: How would you describe the current political situation and what do you think should happen to resolve the deadlock we are in?

Theodor Paleologu: I think is deplorable and it is the result of the worthlessness of the main...

NEGATIVE INTEREST RATES "STIMULATE" THE CONTRACTION OF LENDING AND THEY CANCELING THE EFFECTS OF QUANTITATIVE EASINGWho still believes in the competence of central banks?

Lately, it seems that not a day goes by without the international press pointing out the inability of the central banks before the adverse dynamic of the real economies worldwide and the increased volatility on the international markets.

"For decades, the people of Bucharest have been misled by ELCEN"

• (Interview with lawyer Gheorghe Piperea, receiver of RADET)

• "I would launch a competitive bidding or tender selection process in which other providers of thermal energy would participate, and ELCEN would compete with them"

Isărescu's term, Halep's victory, the fiscal amnesty, the budget deficit - all of it eclipsed by Caracal

Not only the weather was hot in July, but the economic, social and political matters as well. Even though it began with the validation of Mugur Isărescu for the sixth time at the helm of the NBR, it went on with Simona Halep winning Wimbledon and...

Invitation to participate in the audit tender process according to Article 16 of EU Regulation 537/2014 on specific requirements regarding statutory audit of public-interest entities

OMV Petrom invites all interested auditors/audit companies to participate in the audit tender process.

Inflection point, 75 years after Bretton Woods

The Bretton Woods moment has left a mark in politics. The conference which was held in New Hampshire, United States, 75 years ago, has represented a first globalization exercise, in which 44 states have participated, the effort of structuring the...

"It would be best if the US rejoined the nuclear agreement"

Reporter: Your Excellency, how would you describe the economic and diplomatic relations between Romania and Iran?

"It is the first time when France is organizing a cross season with a EU member"

FRANCE'S NATIONAL CELEBRATION/ H.E. MICHÈLE RAMIS, FRENCH AMBASSADOR IN BUCHAREST:"It is the first time when France is organizing a cross season with a EU member"

Reporter: How would you describe the economic and diplomatic relations between Romania and France?

Michèle Ramis: I cannot talk about the current relations between France and Romania, without speaking about the...

ECONOMIST LUCIAN ISAR:"The 5 lei/Euro exchange rate will only occur after the presidential elections"

• Isar: "Starting today, the NBR will no longer draw liquidity from the interbank market, thus no longer being the competitor to the Ministry of Finance, like it has been for the last two years"

Up until after the presidential elections...

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