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Romania’s Economy Heads Off Quietly, And With No Fanfares, Into It’s Deepest Crisis in a Decade

Manuel Alvarez-Rivera (December 7th, 2008) Writes:
Controversy surrounding the Romanian economy is nothing new, nor, as a href="http://globaleconomydoesmatter.blogspot.com/2008/11/romania-votes-under-new-electoral.html"Manuel points out in his post on the recent election/a, are Romanian politics strangers to tumult. Nonetheless the intensity of controversy has grown considerably of late, with a wide variety of assessments being offered concerning the likely impact of the intensifying international credit crisis on the short to medium term outlook for the Romanian economy. National Bank of Romania (NBR) governor, Mugur Isarescu, has been consistently arguing that the country should be able to avoid an excessively "hard landing"as the bank attempts to cool its evidently overheated economy and engages of fire-extinguising activities in the banking sector trying to control the impact of set of adverse external circumstances that are largely beyond its control. But most of these comments (or at least the more convincing ones) preceded the meltdown in the international financial markets which followed the Lehman Brothers ...
Tags for this Post:
Abn Amro, aggregate bank;, Alin Tapalaga;, Baia Mare;, Baltic states, Baltics, Banca Transilvania;, Bancpost;, Bank, Bank of Romania;, BCR;, BRD Groupe Société Générale;, Bucharest, Bulgaria, Calin Popescu-Tariceanu;, Car Sales, CEC;, central bank, central bank policy, central bank policy rate;, central bank year end target;, Eastern Europe, eastern europe economy watch, Ecb, Economics, energy, energy price shocks;, Estonia, EU Commission, EUR, Europe, Europe, European Union, exempt new car sales;, EximBank;, fact central bank;, finance, finance ministry, Fitch Ratings, food, Food Costs, Food Prices, Ford, foreign-owned banking system remains;, Futureal Group;, Gabor Futo;, Gdp, General Motors, Gold Plaza;, Hungary, Iceland, Ing, International Monetary Fund, Italy, Kazakhstan, Latvia, Lehman Brothers, local media, lower social insurance payments;, monetary systems;, Mugur Isarescu;, National Bank of Romania;, Oil Prices, Overnight Interbank;, past year using bank loans;, Porsche Inter Auto;, Porsche Romania;, Raiffeisen Bank, ratings agency, Real Estate Developer, real estate index;, real estate projects, real estate transactions;, retail division;, retail sales strongfell/strong;, Romania, Romanian Association of Automobile Producers;, Romanian government;, Romanian Labour Ministry;, Romanian Parliament;, RON;, Serbia, short term retail sales data;, Spain, Standard;, state-owned bank, systemic bank bailouts;, Trade Registry Office;, Ukraine, UniCredit Tiriac Bank;, USD, Varujan Vosganian;, Washington

Romania’s Economy Heads Off Quietly And With No Fanfares Into It’s Deepest Crisis in a Decade

Edward Hugh (December 7th, 2008) Writes:
by Edward Hugh: Barcelonabr /br /Controversy surrounding the Romanian economy is nothing new, nor, as a href="http://globaleconomydoesmatter.blogspot.com/2008/11/romania-votes-under-new-electoral.html"Manuel points out in his post on the recent election/a, are Romanian politics strangers to tumult. Nonetheless the intensity of controversy has grown considerably of late, with a wide variety of assessments being offered concerning the likely impact of the intensifying international credit crisis on the short to medium term outlook for the Romanian economy.National Bank of Romania (NBR) governor, Mugur Isarescu, has been consistently arguing that the country should be able to avoid an excessively "hard landing"as the bank attempts to cool its evidently overheated economy and engages of fire-extinguising activities in the banking sector trying to control the impact of set of adverse external circumstances that are largely beyond its control. But most of these comments (or at least the more convincing ones) preceded the meltdown in the international financial markets which ...
Tags for this Post:
Abn Amro, aggregate bank;, Alin Tapalaga;, Baia Mare;, Baltic states, Baltics, Banca Transilvania;, Bancpost;, Bank, Bank of Romania;, BCR;, BRD Groupe Société Générale;, Bucharest, Bulgaria, Calin Popescu-Tariceanu;, Car Sales, CEC;, central bank, central bank policy, central bank policy rate;, central bank year end target;, Eastern Europe, Ecb, Economics, Edward Hugh, energy, energy price shocks;, Estonia, EU Commission, EUR, Europe, European Union, exempt new car sales;, EximBank;, fact central bank;, finance, finance ministry, Fitch Ratings, food, Food Costs, Food Prices, Ford, foreign-owned banking system remains;, Futureal Group;, Gabor Futo;, Gdp, General Motors, Gold Plaza;, Hungary, Iceland, Ing, International Monetary Fund, Italy, Kazakhstan, Latvia, Lehman Brothers, local media, lower social insurance payments;, monetary systems;, Mugur Isarescu;, National Bank of Romania;, Oil Prices, Overnight Interbank;, past year using bank loans;, Porsche Inter Auto;, Porsche Romania;, Raiffeisen Bank, ratings agency, Real Estate Developer, real estate index;, real estate projects, real estate transactions;, retail division;, retail sales strongfell/strong;, Romania, Romanian Association of Automobile Producers;, Romanian government;, Romanian Labour Ministry;, Romanian Parliament;, RON;, Serbia, short term retail sales data;, Spain, Standard;, state-owned bank, systemic bank bailouts;, Trade Registry Office;, Ukraine, UniCredit Tiriac Bank;, USD, Varujan Vosganian;, Washington

Hedge Fund Managers in Russia Struggle

Richard C. Wilson (October 23rd, 2008) Writes:
Hedge Funds in RussiaHedge Fund Managers in Russia StruggleBelow is an article on the Russian hedge fund industry and how it is fairing - which is not well at this point. This article is being added to our site's Russian Hedge Fund Guide.Up to half of Russian hedge funds could go out of business as the financial crisis sends investors fleeing and the stock market continues to fall, according to industry experts.Speaking at the Russia Alternative Investment Summit on Wednesday, Simon Fentham-Fletcher, head of fund of hedge funds at Raiffeisen Bank, said in a worst-case scenario, 50 percent of Russian hedge funds could close. The primary source of failure will be a lack of funding as performance deteriorates and investors redeem their money, he said."If ...

Hedge Fund Managers in Russia Struggle

Richard C. Wilson (October 23rd, 2008) Writes:
Hedge Funds in RussiaHedge Fund Managers in Russia StruggleBelow is an article on the Russian hedge fund industry and how it is fairing - which is not well at this point. This article is being added to our site's Russian Hedge Fund Guide.Up to half of Russian hedge funds could go out of business as the financial crisis sends investors fleeing and the stock market continues to fall, according to industry experts.Speaking at the Russia Alternative Investment Summit on Wednesday, Simon Fentham-Fletcher, head of fund of hedge funds at Raiffeisen Bank, said in a worst-case scenario, 50 percent of Russian hedge funds could close. The primary source of failure will be a lack of funding as performance deteriorates and investors redeem their money, he said."If ...

Hedge Fund Managers in Russia Struggle

Richard C. Wilson (October 23rd, 2008) Writes:
Hedge Funds in RussiaHedge Fund Managers in Russia StruggleBelow is an article on the Russian hedge fund industry and how it is fairing - which is not well at this point. This article is being added to our site's Russian Hedge Fund Guide.Up to half of Russian hedge funds could go out of business as the financial crisis sends investors fleeing and the stock market continues to fall, according to industry experts.Speaking at the Russia Alternative Investment Summit on Wednesday, Simon Fentham-Fletcher, head of fund of hedge funds at Raiffeisen Bank, said in a worst-case scenario, 50 percent of Russian hedge funds could close. The primary source of failure will be a lack of funding as performance deteriorates and investors redeem their money, he said."If ...

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