Romanian banks' profit is saved... by the state. Elsewhere in the news, crisis measures: a housing agency turned into a food store, a furniture showroom turned into a restaurant, a factory turned into a tourist lodging. Last but not least, the Romanian energetic system is old, robbed and futureless.
Romanian banks' profit is saved... by the state, Gandul informs. From January until June, the Romanian state borrowed 6.59 billion euros from the banks in Romania, according to the Public Finance Ministry. So far, the state paid back 430 million euros worth of profit. The money is used to pay mostly salaries, pensions and consumption. But the banks lost appetite to borrow to people or businesses.
"It is the state who’s to blame, not the bankers", Romanian economic analyst Ilie Serbanescu says. He claims that the year 2010 will be miserable, full of redundancies and tax increases because the Government did not take the measures it had to this year, since it is an electoral year in Romania.
"If the state continues to borrow at this rate, by the end of the year the banks might cash back 730 million euros in profits, that is over half of the entire banking system profits from last year. (...) In the first seven months of crisis this year, the banks insured 38% of the 2008 profit only on the expense of the state", Serbanescu went on.
Evenimentul Zilei reads crisis measures: a housing agency turned into a food store, a furniture showroom turned into a restaurant, a factory turned into a tourist lodging, all measures taken by Romanian entrepreneurs fighting the economic crisis. The blocking in the housing system saw many profile agencies concluding their activity. But the ones to survive are the opportunistic, with a low number of employees, minimum costs and clients with low expectations. The old, traditional housing agencies are
