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In 1997 the well-known CNN journalist and political analyst, Fareed Zakaria wrote a visionary commentary entitled “The rise of the illiberal democracy” which predicted the rise of a new category of leaders: popular autocrats intent on governing without much regard…
Read moreManaging portfolio investments is a job in itself. One for which professionals study hard a highly complex field which is not within everybody`s reach. There are no shortcuts and the responsibility is huge as these people deal with other people`s…
Read moreHow can we decipher what is currently going on with the economy? Assuming that we are regular people with average knowledge in the area. What might seemingly conflicting statements, such as “the inflation that we are able to keep in…
Read moreCertainly, this is a question that on the face of it could sound absurd to many. How can a country with significant natural gas resources fear that they could end up creating trouble? These concerns are not new and there…
Read moreA few months ago I participated in a conference organized by the Romanian Central Bank. On that occasion, against the backdrop of Mr. Juncker`s vaguely optimistic statements on the new European architecture, people talked endlessly about including Romania in Europe`s…
Read moreThis was not the plan. This is not how it was supposed to happen! Romania, from its big brother position, was intent on acting as the main champion and “coach” to the Republic of Moldova so that the latter could…
Read moreRomania is in a frantic race to modernize its military arsenal. It is a race which involves significant costs for the lowest European budget relative to its economy. These costs make Romania`s defense budget the second largest as a percentage…
Read moreThe latest Romania`s achievement in terms of raising foreign debt was a sovereign bond issue worth $1.2 Bn bearing an annual 5.2% interest rate and a maturity of 30 years. As an aside, that was an opportunity that Romania will…
Read more“Even though we are celebrating 10 years since the first contributions were paid into the private mandatory pension funds (Pillar II), I do not think that festive presentations are in order. Having this event in the amphitheater of the School…
Read moreThese comments are designed for those who insist on regularly reassuring us that there are no reasons for concern, that excessively loading the budget with irreversible expenses, such as pensions and wages is sustainable because there is no crisis looming….
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