BNR Governor Isarescu warns about the risks of failing to keep the coherence of macro-economic policies

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National Bank Governor, Mugur Isarescu, has warned on Wednesday about the need to keep the macro-stability, adding that ‘financial discipline is one of the important objectives we should promote.’

The speech was delivered during the annual conference of the Financial-Banking Analysts Association, the tenth edition called ‘Romania after 10 years. Achievements. Failures. Economic prospects.’

“We must take care of macro-stability as the light of the eyes, from this derives the sustainability, the durability of our development and the path within the EU. There is no valid alternative over long term to the coherent macro-economic policies. If we fail to keep coherence, sooner or later we will pay as country,” Isarescu said.

The BNR Governor said all of us want to have a better life, but the uncorrelated incentives may stimulate the economic vulnerabilities, mainly in the countries under transformation processes, eager to recover the gaps, for real convergence.

Isarescu stressed that the financial-banking analysts should make efforts to translate the BNR messages from Romanian to Romanian, without distortion, so that the public understands them. He argued that, in a period when the world is transforming, it’s important that the erroneous and tendentious ideas, sometimes easy to promote in the public space, are not allowed to become dominant.

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