The worst has yet to come in the current international crisis, analysts believe. Until then, the banks in the much-praised Romanian banking system already begin to impose tougher rules for credits. Not a problem for the big spenders that have access to the state budget, and where the splurging continues regardless the crisis.
The crisis is yet to be expected in Romania, Gandul reads: the financial crisis will lead to an economic crisis, with companies laying off personnel, foreign investments being cancelled and export products facing a decreasing demand. Mittal Steel Galati already announced it will reduce its production in Romania some 50%. At the same time, the European Union - the market for 70% of the Romanian exports - is in crisis, with the most important economies on the brink of recession. Businessmen claim that banks already offer less credits for companies, a fact that will affect the local economy.
Cotidianul continues in the same voice, pointing at banks, where mortgage credits are more and more difficult to obtain. A client's participation with 15 to 25% of the credit is expected, while credits for the acquisition of land may demand up to 50% of the sum as advance payment from the client.
Speaking of Cotidianul: the daily published a "green" paper on Friday, as part of its ecological campaign. After explaining that the planet loses more because of the lack of trees - between 2 and 5 thousand billion dollars every year - than it loses during the financial crisis, Cotidianul unveils a law draft in work at the Bucharest City Hall: all those who want to marry or register a car will have to plant a tree fist, in order to obtain the City Hall approval.
Back to the Police scandals with car procurements unveiled a couple of days ago: the head of the Procurement department in the Police was fired for attempting to
