Update – PM Mihai Tudose: The banks are guilty for the historic rise of the European currency. BNR spokesman replies

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The banks are guilty for the historic rise of the European currency, Prime Minister Mihai Tudose said on Thursday.

The head of the government explained for Antena 3 TV, why the National Bank of Romania did not get involved in stopping the EUR growth and says he will have a meeting with the central bank’s representatives.

“I have part of the explanation, for the other part I recommend you to talk to the BNR, who should be more careful. The BNR can and should intervene, it did not. In April, the BNR told the banks that they were good, solid and reduced their (obligatory) deposits from 10% to 8%, which made EUR 500 million available, of which EUR 280 million have already left the country. Basically, the banks had money in national currency, changed them into euros to take them out of the country. All banks have done this,” PM Mihai Tudose said on Thursday for Antena 3 TV.

BNR spokesman Dan Suciu has answered on Friday to the PM’s statements, highlighting that the central bank is doing its duty with responsibility and that the Board could invite PM Tudose for talks.

“We were accused until now that we intervene too much on the market, that we affect the national reserve. Now, Mr. Prime Minister says we are not doing enough. Should we understand he recommends us to increase the intervention interest, as this is the available instrument, in order to address 1% depreciation? The interests are already on the rise… I don’t have an official position from the BNR Board, but I believe the Board will invite Mr. Prime Minister to a meeting to understand if this is what he expects from the central bank. I assure you, BNR is doing its duty with all responsibility,” Dan Suciu said.

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