All the stakeholders need to join forces to prevent the death of the Romanian stock market, says Daniel Dăianu, first vice-president of the Financial Supervision Authority, former minister of finance and member of the European Parliament.
He said: "A new chairman at the BSE should not be awaited like a new Messiah. I am actually surprised at the statements that some people are making, with analogies with the world of football. Also, we need to create the institution of the central counterparty, like the EU is asking and as is reasonable".
The Central Counterparty is an institution which is required by the European Union, for the clearing of derivatives, which requires a minimum capital of 7.5 million Euros.
The shareholders of the Bucharest Stock Exchange and of Sibex did not attend the General Shareholder Meetings which were supposed to decide on the creation of the local Central Counterparty.
Daniel Dăianu says that a public private partnership would represent a solution: "I think that there is a need for an intervention of the public authorities in the creation of the central counterparty. A public-private partnership would be a solution under the current circumstances. Maybe the NBR will get involved, one way or another. The public intervention would have a role of coordination and overcoming the lack of foresight of some of the players in the market".
Daniel Dăianu kindly gave us an interview, in which he talked about the local financial issues, about the regulatory problems, as well as about the context of the crisis, on a European and global level.
* Interview with Mr. Daniel Dăianu, first vice-president of the ASF, former finance minister and member of the EU parliament
Reporter: Does the global economic system need more regulation, or, quite the opposite, does it need deregulation? What would be the sit
