* "The convalescence isn't happening only in Romania, but all over Europe"
* "Fiscal stability is more than necessary"
* "Almost ten years after the introduction of the RON, people still give me the prices in millions, when I go to the market"
The banking union is a necessary exercise for the European Union, according to the vice-president of the European Investment Bank (EIB), Mihai Tănăsescu. He gave us an interview, in which he explained to us why he feels that the new stand-by agreement concluded by Romania with the IMF isn't "a sentence to two years of pretend reforms", like the analysts claim, but also why providing the population with information on the benefits and drawbacks of joining the Eurozone is crucial.
Reporter: Not long ago, Mario Draghi, the president of the European Central Bank, was saying that the European Union it has exited the recession and that it is on an upward trend. To what extent can we say that the financial turbulence is a question of the past?
Mihai Tănăsescu: It is clear that Europe has made significant progress in the last five years, since the beginning of the crisis. We know very well that today, the European continent is far better prepared when it comes to a potential crisis than it was at the time. Some lessons have been learned from this financial crisis, which has also turned into an economic crisis in many states. It is also obvious that in 2013 and particularly in 2014, Europe will resume the cycle of economic growth. Obviously the growth rate will be low, but there are some positive signs which make us feel that starting from this moment, Europe will go on an upwards trend.
Reporter: Can you make an approximate prediction, on how much the EU economy could grow?
Mihai Tănăsescu: It is very hard to specify numbers, but what is important is that there is a change in the trend
