The American Embassy doesn"t seem to take much interest in the Romanian stock market. The only report on the subject (and a pretty boring one at that), out of the thousands of pages revealed by "Wikileaks", only mentions a single meeting, which took place on June 9th, 2008, between the president of the BSE Stere Farmache and the embassy"s economic attachés.
What Farmache told them:
* 1. That the BSE is affected by the financial international turbulence and that it is trying to maintain its level, based on the growth of the Romanian economy (let"s remember that we only admitted on the next year that we entered the crisis);
* 2. That the BSE would launch new financial instruments, that taxes would be eliminated and that a corporate governance code would be drawn up for the listed companies;
* 3. That he intends to have 400-500 companies listed as part of a new category, called the "RASDAQ-Star".
That was all.
That is all a decade in the history of the Romanian stock market history, a decade in which I wrote about it daily, amounts to in the American embassy: three loads of baloney.
The economists of the Embassy had nothing to comment, no interest at all on the subject.
They just swallowed three loads of baloney raw.
* THE FIRST ONE: The stock exchange is the barometer of the economy
Farmache told them the logical thing - the Romanian economy is protected from "turbulence", meaning that we had the base for escaping the storm that toppled the foreign stock markets and that all that was left was to do was finding the way to do it.
In other words, he was trying to suggest that the BSE was in sync with the evolution of the Romanian economy.
The stock market is after all, the "barometer of the economy", isn"t it?!
The man has learned his meme and he keeps serving it, three years later; two days ago
