Britain’s decision to exit the European
\nUnion involves a significant change in the
\ngeometry and architecture of the union and we’ll have to find the best
\nways to deal with it, Romanian President Klaus Iohannis said upon returning
\nfrom the European Council in Brussels, a meeting that also focused on
\nBrexit. For this purpose, Prime
\nMinister Dacian Ciolos, Central Bank Governor Mugur Isarescu and the leaders of
\nthe parliamentary parties will meet early next week for a new round of talks
\nwith the head of state, the second such meeting after the British referendum. <\/p>\n
<\/p>\n
It’s now time to focus on the next step at both EU and domestic level, says
\nKlaus Iohannis, who believes that drawing up a new post-accession country
\nproject is a must. According to the Governor of the National Bank of Romania
\n(BNR) Mugur Isarescu, Britain’s decision to leave the EU has impacted the
\nRomanian financial market to a lesser extent that those of the other countries
\nin the region, but more serious effects might still be felt later. The result
\nof the British referendum has translated into very small turbulences on the
\nRomanian monetary and foreign currency market, the little changes that occurred
\nbeing mostly the result of an emotional shock, Isarescu has said, adding that
\nBrexit has further increased the level of uncertainty in international markets. <\/p>\n
<\/p>\n
Mugur Isarescu: Uncertainty is
\nthe main effect which is felt not only in Romania, but also in Europe and the
\nwhole world. As a consequence, our
\napproach becomes much more practical, and that’s something quite new. We see
\nhow things are unfolding and we take
\naction using the tools we have. The good thing is that all Central Bank’s tools
\nare available. Nothing is blocked or limited in any way. And this is a plus.<\/p>\n
<\/p>\n
\n
<\/p>\n
Brexit impacts
\nRomania in three ways: in the short term, with effects on the financial
\nmarkets, in the medium term, that is one or two years, with consequences for
\nthe economy and also in the long term, with effects at political and
\ninstitutional level. This is the opinion of the Central Bank’s deputy governor,
\nBogdan Olteanu, who has given assurances that there is no such thing as a crush
\nor chaos and that the market is functional. Olteanu believes that weeks of turbulences
\nmight follow, but there are tools for them to be contained. <\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
On Monday, Romania’s President Klaus Iohannis invited PM Dacian Ciolos, Central Bank Governor Mugur Isarescu and the leaders of the parliamentary parties to meet for anew round of consultations on Brexit.<\/p>\n","protected":false},"author":108,"featured_media":69181,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37738],"tags":[14005,30655,31158],"coauthors":[],"class_list":["post-69180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-the-news","tag-brexit","tag-central-bank","tag-financial-markets"],"acf":[],"yoast_head":"\n