Central bank official gives opinion on the current political crisis

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Eugen Rădulescu, the director of the Stability Department within BNR, the National Bank of Romania, has posted a warning on its Facebook page:

“We are in an extremely difficult situation, politically and economically speaking. I don’t think we have resources to hang on for another one year and a half, until a new government, resulted from elections on time, to be able to repair what is badly damaged right now. Even if the current government does not promote any toxic laws anymore, like it has done in the almost past 3 years, its replacement within the existing constitutional framework depends on how much will the MPs who have formally quit the ruling majority will act. I have huge doubts that a vote will topple down the current government, no matter how toxic it is. If the government is eventually toppled down, I would like professionals to come up, eventually from more or all the parliamentary parties and PLUS, to take the lead. The first step should be to assume responsibility on a law to repeal all the crap promoted since January 2016: first of all, the justice laws and the rigorous compliance to the Venice Commission’s recommendations; the laws that have blatantly cut the President’s powers; the economic laws that allowed the public funds to be robbed.”

Subsequently, Radulescu mentioned it is a personal opinion, yet explaining that “if opinions happen to have political subtext, so be it.”

“If overtones on economic matters are not similar to the ones officially expressed by the leadership of the bank, it would be silly NOT to be like that. I am not gagged just because I am working at BNR“, he argued.

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