The results of Sunday's referendum in Greece had immediate echoes in Bucharest.
The results of Sunday's referendum in Greece had immediate echoes in Bucharest. Politicians displayed both deference and concern regarding the Greek people's vote against the austerity measures requested by the country's international lenders. Concerns are fuelled by fears of this crisis spreading to other European economies. Separated on Europe's map only by Bulgaria and bound by a long-lasting political friendship, Athens and Bucharest are partners at EU level and also allies within NATO.
Romania is the recipient of significant Greek investment, while Greece is a favourite holiday destination among Romanian tourists. That is why Romania's president Klaus Iohannis has expressed hope for Greece's European future. In a message posted on Facebook, the president says that all EU member States should continue to seek ways out of this crisis.
In turn, Prime Minister Victor Ponta has stated that dialogue is the solution to the current crisis, rather than unilateral decisions. Also on Facebook, the Prime Minister says that irrespective of the path Greece opts for, recovery will take years of reforms and sacrifices. As regards the effects of the crisis in Romania, Victor Ponta recalls that our country has been reporting economic growth for the fourth consecutive year, and that no external events could disrupt this positive trend. "Romania is nothing like Greece", Ponta says in his message, calling Greece a functional, predominantly leftist democracy and criticizing those whom he calls "tallibans" or "social butchers", who stigmatize a country just because that country decided to make its own, separate choices.
As regards the economic level, Greece's four largest banks currently hold 12% of Romania's bank assets. However, Central Bank spokesman Dan Suciu believes none of Greece's decisions will influence the Greek banks in Romania, as they are registered as Romanian legal entities. "We are talking about Romanian, not Greek banks, which at some point in the past had Greek capital", Suciu explained. Greek banks operating in Romania comply with the Romanian law, which guarantees all deposits of up to 100 thousand euros in all banks in Romania. Dan Suciu says that from the point of view of Romania's National Bank, Romanian citizens have no reason to fear for their deposits or cash reserves.
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