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Bad infrastructure banishes the foreign investors

31 Ianuarie 2007
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In an interview to the reporters from the daily ZIUA of Iasi, the agent from the Central European Bank, Allister Mc Callum, stated that the problem of infrastructure could generate reticence to the possible investors that might come to Romania after the adhesion to the European Union." As we can see, the National Bank stimulates and encourages the investors to come to Romania. Whether they'll come? This is a good question. I do think they'll come, gradually, if not now", sustained Allister Mc Callum.
Reporter: In the last years, The National Bank has been the goal for some critics from the business environment concerning the economic interventions. How are these interventions perceived by the Central European Bank?
Allister Mc Callum: The interventions you are talking about, from the Romanian National Bank, must happen and these have facilitated the admission to The European Union. These interventions of the Bank used to be needed and they are still necessary. From this perspective, we- the Central European Bank- do support the Romanian National Bank.

R: As we can see, The National Bank stimulates and encourages the investors to come to Romania. Whether they'll do it? It is a good question. I personally think they will come, if not now, than gradually.
R: Which is the role of the Anti-Fraud Department of Romania, towards the other similar institutions from Europe? And in what way do you see the cases of European funds embezzlement?
A.C.: The existing Board or Department is for protecting the investments, both the ones from abroad and the internal ones. They should assure there are no frauds and that these investments do get where they have to. I think they have a key-role within this process, which is benefic. In what concerns the cases of embezzlement, I cannot comment upon them. I am not informed about them I only represent the bank part. I do not have other information.
R: When do you think Romania could adopt Euro currency?
A. C.: Certainly not now. But in case the Government and the National Bank do move towards the right direction, I do not see any problem. Romania should be conscious of the fact that it is rather a part of the process of decision than a simple observatory. Concerning Euro policy, there are three categories. The first one is represented by the 13 states that already have Euro as currency at the moment, the second- by Great Britain and Denmark, countries that have not decided upon Euro yet, and the third category is of the states' that are going to adopt Euro when they will have been prepared from an economic perspective, among them being Romania and Bulgaria.
R: Often has the National Bank positioned differently concerning the governmental policy. How could you comment upon this aspect?
A.C.: This often happens. It happens with us in the same way as everywhere. It happens that the Bank has other opinion in order to diminish inflation or to reduce the unemployment rate, for example. And I'm sure the Government does want it, but in its case also interferes the political side. In order to be popular, there are taken some measures which could lead to the inflation increase. The intention of the National Bank is that of creating a long-term stability - which might be reflected upon the economic improvement- and that of not mingling the economy with the political side.


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