Friday, June 29, 2018

BUCHAREST - NBR: Placing gold operations arbitrage or speculative involve counterparty risk and it increased with the crisis gloală said Friday Mugur Isăescu Governor National Bank of Romania (BNR), a conference of press. "The gold held by the central bank to the account opened at the Bank of England, which is a custodian solid financially and reputation is always our gold, so there is NETeller through various operations and is available to us at any time. Placing gold operations arbitrage or speculative involve counterparty risk and it increased with the crisis gloală. an eventual recovery by operations, as suggested in some discussion in the media, through television, would involve a form of alienation, even if stock would remain deposited with the Bank England ", said Isarescu.  "We have not considered that such a period is better to resort to such operations for gains that otherwise are small. Not worth, so to speak.   Not only that but I did not, at least not us has it occurred to play gold in păcănele as suggest a character. "
He referred to the Romanian gold held by the Russians. "I see that Hungary has repatriated gold abroad. Well Hungary has three tons of gold. They held abroad or kept them in Budapest was the same thing, why would not we increased our stock of gold, enough big as Poland? If we take into account that we have a gold stock stored elsewhere with the relevant documents, but still unrecognized, I think our stock of gold is high enough but we are ready to buy at competitive conditions to be hereinafter yellow metal. As a proportion of gold in total international reserves, are beyond the means ", said BNR governor.

Sunday, June 17, 2018

   Mugur Isărescu, about NBR policies :
     - The decisions of the Board of Directors of the NBR have targeted the behavior of the monetary policy in the context of the significant and quick increase of inflation;
     - the lack of reaction of the NBR would have led to inflation expectations being tethered to a new higher level, because economic operators would have interpreted the lack of reaction from the NBR as a tacit acceptance of the new inflation level;
     - The risk of depreciation of the leu would have increased, which could generate new inflationary pressures, because the NBR can't fight the pressures of the monetary market regardless of the circumstances, especially if they are accompanied by a change in the perception by investors;
     - The hike of the annual inflation rate was generated first and foremost by exogenous, temporary and statistical factors;
     - The monthly price increases also reflect fundamental inflationary factors, such as the accumulation of inflationary pressures on the demand side, the increase of wage costs and increased inflationary expectations in the short term;
     - The measures passed by the NBR represent the only correct, justified and proportionate reaction to the inflationary threats and to the growing imbalances in the economy;
     - we share the point of view of a good combination between the monetary policy and the government's economic policy;
     - Inflation and the exchange rate represent symptoms of the quality of the mix of economic policies, and the chain of causes - budget deficit - current account deficit - weakening of the leu - inflation must be viewed as in correlation not just with the monetary policy, but with the government's fiscal-budgetary and tax receipts policy;
     - the full management of the aggregated demand by the NBR involves the more intense use of monetary policy instruments, which would generate a larger rise of the interest rate, because the use of macroprudential instruments, to reduce demand by compressing credit, is not enough;
     - a potential intervention on the exchange rate would not only prove unsustainable and would lead to the pointless loss of the currency reserves, but it would also affect the credibility of the central bank;
     - the situation in Romania is different from the one in Czech Republic, Poland or Hungary, as the inflation rate is within the targeted range (mostly due to some prudent budget policies), and the pressures are on the strengthening of the currencies, unlike Romania, where the pressures are towards its weakening;
     - the announcing of risks to the balances of the economy does not amount to expressing suspicions concerning the government's policy;
     - The NBR has opted to use the annual inflation rate because the ratio allows the ongoing observation of the inflation in relation to the target, and what the average citizen feels is more the CPI inflation, rather than the one calculated based on the Eurostat methodology;
     - the demand surplus is an unobservable size and it is justifiable its more cautious approach, because when its effects manifest themselves through inflation and foreign deficit it is too late for an effective action of the monetary authority;
     - Regardless of the level of surplus demand, its very existence requires a prudent economic management, which relies on anti-cyclical policies, and the pro-cyclical policies from the public authorities do nothing but deepen the imbalances;
     - In this context, the measures taken by the NBR had as their goal minimizing the risks of a eventual forced adjustment when the economic cycle enters a negative slope.
Un sondaj Europa FM despre cum percep românii Justiția și amestecul politicului în dosare. Sondajul comandat de postul de radio Europa FM arată că un referendum organizat de Klaus Iohannis pe tema independenței Justiției ar strânge o prezență considerabilă la vot. Președintele, preferat să numească procurorii șefi de parchete. „Ați participa sau nu la un referendum convocat de președintele României pe tema justiției?”, este una dintre cele mai importante întrebări cuprinse în sondajul realizat de IMAS, la comanda Europa FM. Aproape 37% au răspuns că ar participa cu siguranță, peste 15,5% au spus că probabil ar participa, iar cei care cu siguranță nu ar participa se numără într-un procent de 34,7%. În condițiile în care pragul pentru validarea referendumului este de 30%, un astfel de referendum ar trece ușor peste acest procent. O altă întrebare se referă la numirea șefilor de parchete - cine ar trebui să-i numească? Aproape 22% consideră că numirile ar trebui făcute de Consiliul Superiro al Magistraturii, 35,3% au răspuns că Președintele României, iar ministurl Justiției a strând doar 17,2%, conform EurActiv.

Tuesday, February 27, 2018

Guy Verhofstadt declared on Tuesday the European Parliament would fight to ensure that Northern Ireland remains subject to EU law after Brexit and heaped yet more pressure on Mrs May in a crunch week for the Prime Minister.
British MEPs accused the parliament’s Brexit coordinator of "intolerable interference" in UK affairs and of trying to topple Theresa May’s government.
Mr Verhofstadt, the parliament’s Brexit coordinator, told MEPs in the Constitutional Affairs Committee that it was the only way to prevent a hard border between Ireland and Northern Ireland.
“It’s for us key that there will be in future, whatever the outcome of negotiations will be, no divergence in norms, rules or standards...

Wednesday, February 7, 2018

European stocks make modest rebound after US shares end a wildly volatile session on the rise last night
  • Futures indicate that US stocks will slide back into the red when markets open in New York
  • FTSE 100 claws back 1pc while the DAX and CAC 40 nudge up 0.7pc and 0.5pc, respectively, in early trading
  • Asian markets rebound but run out of steam
  • European markets made a tentative recovery following yesterday's global stocks sell-off but futures contracts indicate that US stocks are set to tumble back into the red once again.
    After tumbling 2.6pc to a nine-month low in yesterday's global sell-off, the FTSE 100 has clawed...

    Thursday, February 1, 2018

    A cancer jab that can eliminate tumours even when they have spread throughout the body is about to start human trials.  Scientists at Stanford University in the US found that injecting tiny amounts of two drugs directly into a tumour not only kills the original cancer, but also triggers an ‘amazing bodywide’ reaction which destroys distant cancer cells.
    The drug combination works by switching on immune cells inside the tumours which have been deactivated by the cancer, then boosting them so they can go to work killing the disease.
    And once the immune cells have been reactivated, they recognise other cancer cells elsewhere in the body and set about clearing them out.
    Scientists said the therapy worked ‘startlingly well’ in mice. Nine out of 10 animals were cured of cancer after just one jab, and the rest after a second injection.

    Wednesday, January 17, 2018

    With Brexit entering a critical phase, the arrival of French President Emmanuel Macron in Britain tomorrow should give Theresa May a golden opportunity to begin work on building the new set of alliances Britain will need for life beyond the EU. Immigration issues are certain to dominate the agenda, as Mr Macron seeks to resolve the disruption caused by the hundreds of illegal migrants who have once again gathered in the Pas-de-Calais.   The French president has caused a degree of consternation in some circles with his suggestion that Britain should do more to resolve the seemingly perennial Calais issue by agreeing to take more migrants, as well as contributing more to the costs of cross-border security enshrined in the Le Touquet accords.  Such demands might appear presumptuous to committed Brexiteers, who take umbrage at the prospect of any foreign power telling the British government how...