Romanian PM: Government does not want to nationalise banks

The Romanian Government will not request the takeover of stakes in banks within the system in case they incurred problems, as happened in other European countries, but it will try to find solutions to preserve the funding lines opened with parent banks, said Prime Minister Emil Boc at the launch of the Annual Forecast Report put together by the Romanian Academic Society. “The Romanian Government does not want to resort to bank nationalisation, this is not the right direction. The Government wants the funding lines to be retained and I think we will be able to find joint solutions – the NBR – the state – banks, to preserve the funding lines,” said Prime Minister Emil Boc. The banks that have participated in the privatisation process in Romania will have to continue to keep up with their obligations on the Romanian market,” Boc added. He says after the budget is approved, there will be “a very serious discussion” with the National Bank regarding the anti-crisis programme and measures to support the banking system. “Without a set of mutually supportive measures for the Government and the National Bank, we will not be able to make the best decisions. We have already had preliminary discussions with the National Bank and further talks will take place in the coming period. We will also keep in mind the recommendation on capitalising banks. We want to reassure the business community that our goal, capitalising the banks, is just a first step towards providing the economy with the necessary financial resources, with a focus on guarantee and counter-guarantee mechanisms (mentioned in the report), which can be a solution for the business community, ” said Boc.