Mihai Marcu: Suma de 4.5 miliarde este de fapt o scăpare... - Bloguri economice

miercuri, 22 iulie 2009

Mihai Marcu: Suma de 4.5 miliarde este de fapt o scăpare...

Asa cum foarte bine spunea Alexadi, informatia despre suma de 4.5 miliarde euro probabil folosita de BNR pentru sustinerea leului a fost o informatie neautorizata de BNR, care in alte conditii nu ar fi fost niciodata tiparita intr-o publicatie oficiala.

Articolul de azi din Ziarul Financiar al lui Adrian Vasilescu denunta destul de radical publicarea unei astfel de informatii, sub pretextul ca ar fi denatura piata. Nu cred ca acest motiv este singurul, speculatorii adevarati din octombrie 2008 nu au avut nevoie de astfel de date.

Singura explicatie rezonabila pentru secretomanie o da tot Alexadi: este vorba de protejarea sensibilului mental colectiv romanesc, care sta cu ochii pe curs ca pe butelie, si trece de la agonie la extaz cu fiecare ban castigat de cursul de schimb.

Pentru conformitate, citez paragraful din raport:

"The inter-bank market was disrupted in October 2008 by rumors of liquidity problems at a commercial bank, leading to a spiking of rates; these rates remained relatively high thereafter due to lingering concerns about counterparty risk, high risk aversion, and market segmentation due to an uneven distribution of assets (T-bills) eligible for discount with the NBR.

Balance of payment pressures drove a 15 percent depreciation of the leu against the Euro from October 2008, putting pressures on household, corporate and bank balance sheets. To dampen currency volatility, the central bank intervened in the spot market, with some EUR4½ billion in reserves since end-October. Despite the depreciation, financial conditions tightened significantly on increased sovereign credit default swap premium and monetary policy tightening. Romania’s international credit rating was cut in late 2008 by a larger margin than those of other countries in the region, reflecting market concerns about the sustainability of Romania’s large current account deficit, uncertainties surrounding the outlook for fiscal and incomes policies, and the 10 financial health of banks with subsidiaries or branches in Romania. This has translated into significantly higher external borrowing costs for Romanian banks and corporates. "

Citeşte restul postării şi comentează pe blogul lui Mihai Marcu

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