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Vasilescu (BNR): If Spain and Italy are affected we will too

Problems in Spain and Italy would also affect Romania and measures will have to be taken to reduce the effect as much as possible, the councilor of BNR governor Adrian vasilescu declared on Tuesday at a TV station when speaking about the financial problems facing the two countries. “Italy and Spain are two big countries and their problems could affect us too. If they do we will have to take measures to be affected as little as possible,” Vasilescu explained pointing out that Romania has all kinds of relations with the two countries.

“The earthquake from Europe would be big if Spain and Italy fell. Italy’s debt is so big that there is danger. We hope it will be avoided”, said the BNR official. The long term interest rates of Spain and Italy have reached historic records since the setting up of euro zone, victims of massive bond sales, investors focusing on bonds of countries noted 3A by rating agencies.

As for the evolution of the leueuro exchange rate of Tuesday, when the national currency depreciated with over 1% Vasilescu pointed out that the situation could change rapidly. “A seller or a buyer could change the situation of the day”, he added.