BNR vice governor: Refugees should be welcome

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Vice Governor of the National Bank of Romania, Bogdan Olteanu considers the refugees arriving in Europe should be welcome, although they represent an expense for the member states on short term, as they could be useful on the labour market on long term through their competences and abilities.

“There will be some expenses on short term, but I believe a rich continent can afford them, and it will be a strong opportunity on long term, which can be managed by some well administered countries. Maybe on long term we could take advantage of the immigrants’ competences and abilities and they can be part of the European workforce in the future,” Olteanu said at “Romania Investor Day” event, answering a question on what will be the economic impact of the refugees’ arrival in Europe.

BNR official argued that many European countries are facing demographic challenges, and there will be higher expenses on long term and they will be even encouraged in some states.

“Think about how much was Germany praised for increasing expenses, there are10 billion euros, and not necessarily for infrastructure, as it was expected (…) I am not expressing the stance of the National Bank, but a personal opinion. Refugees should be welcome,” Olteanu concluded.

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