* Lucian Anghel: "Many projects that we are working on will complete in the long run"

* Victor Cionga: "The new management shouldn't be seen as a universal panacea"

* BVB: New listings, the responsibility of the brokerages

The management of the Bucharest Stock Exchange yesterday presented the projects it is working on and the outlook for this year, but also felt the need to emphasize that some of the responsibility the development of the market, such as bringing new issuers on the BSE, lies with the brokers.

Lucian Anghel, the president of the BSE, has compared the activity of the BSE to that of the manager of a football field. According to Mr. Anghel, the manager's responsibilities are to make sure that the grass is mown, that the lines are painted properly, not to train the team or to win the games.

"We are working on many projects relevant for the future, but they will complete in the medium and long term", said Lucian Anghel, yesterday, in a press conference. He went on to say that these projects represent the foundation for the development of the capital market.

"The current state of the stock market is influenced by what has happened in the past", Lucian Anghel said.

Even though the expectations of the market were very big on last year's elections, Victor Cionga, the general manager of the BSE, considers that the new management of the BSE should not be viewed as a universal panacea. Moreover, in his opinions, the members of the current board of directors are underestimated.

"The activity of the management of the BSE isn't measured in weeks or months, but in years", said Victor Cionga, who added: "There is a pressure created by the huge expectations which the market has. We are trying to live up to expectations, but we need to do so objectively".

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