THE NBR STRATEGY BEFORE THE CRISIS Valentin Lazea amscrays

ANDREI MURGULEŢ (translated by Cosmin Ghidoveanu)
Ziarul BURSA #English Section / 25 februarie 2016

Valentin Lazea amscrays

The National Bank of Romania (BNR) has to clarify whether Valentin Lazea, its chief-economist was granted a leave for February 24th, or he missed his day at the office to attend the conference called "An economic strategy for Romania: Answers to 3 questions that have never been asked".

On location, Valentin Lazea was introduced with his position at the NBR, as written on the invitation at the event, and as it was clearly written on the name tag in front of him. But Lazea claimed that he was only present at the conference, "as an individual" and that he was presenting his own opinions, not the ones of the NBR.

The NBR Chief-economist lost his temper after Constantin Savu, the president of UZINSIDER, asked him a common sense question: what is Romania's outlook, as there is a new crisis looming and what should the NBR do to support the companies for supporting the companies that still alive in the Romanian industry.

Once again, the conference was about Romania's development, and Mr. Lazea had been introduced as a chief-economist of the NBR.

Lazea dodged the question, saying that he only attended the conference to express his personal opinions and he left the room, turning his back on the business people present at the event.

The course of the incident was as follows: Constantin Savu introduced himself as the chairman of UZINSIDER, who is in charge of the production and export of machinery and equipment, and then he said: "Over time, we have had a number of talks with the National Bank of Romania concerning its policies, but that is not the reason why I am speaking now. I remember that in 2008, the crisis was heavily under way in the West and normally, the National Bank of Romania ought to know what is happening in the country. In October 2008, the governor (ed. note: Mugur Isărescu) was reassuring us that the crisis wouldn't hit us very hard. In 2008, he took steps to limit reckless lending, and the consequences of that situation are still being felt today.

We are currently going through a complex situation which, according to the estimates of reputed Western economists, has never been encountered before. We are probably facing a crisis that is bigger than that of 2008.

As an exporter of machinery and equipment, I have a strong perception of what is happening and if we read the press and specialized studies we see that there are massive layoffs in Eastern Europe, utilities are being shut down, projects are disappearing, major companies that we used to work with without issues are having financial problems, to say nothing of the banking system. The problem is the following, does the National Bank have an opinion concerning our outlook and what should the NBR do to support the companies that are left in the Romanian industry?"

That is the point where Valentin Lazea lost his temper: "It seems that the fact that I state at every conference that I am not speaking on behalf of the National Bank of Romania, I don't have the right, or the authorization to speak on behalf of the NBR is useless. Everyone keeps asking me what the National Bank has to say. I am telling you what I think should be done, I do not have the liberty to tell you what the National Bank has to say".

Naturally, voices from the audience asked: "Aren't you an employee of the National Bank?"

Mr. Lazea went on to say: "These conferences, such as this one, are made for people to freely express their thoughts. That is the playing rule of this conference. If you only want to speak on an institutional level, then we shutter these conferences and we start issuing press releases. If you've come here, you are accepting the rules of the game, if not, the organizers should tell us if the rules of the game have been changed".

Does Mr. Lazea mean to tell us that at the National Bank he doesn't freely say what he thinks? Or he is the only one who is allowed to speak freely, and businesspeople must "abide by the rules of the game", in other words avoid asking "mean questions"?

On that, other voices from the room asked: "Should we get up and leave now?", and Mr. Lazea answered: "Should I? I'll go".

Another voice was heard from the room: "Perhaps you could explain to us how things work when it comes to insolvency in Romania".

ÎOn his way towards the exit, Valentin Lazea further said: "Today's topic was export and Romania, not the National Bank, nor the law of giving in payment, nor insolvency, nor many other things. Thank you very much".

The strange thing is that nobody had mentioned the Law of giving in payment. But maybe it was something that had been running around in the brain of Valentin Lazea from the NBR, who had just walked into the conference just like John Q Public, off the street. Perhaps Mr. Lazea got a sudden burst of the NBR state of mind and chose to behave just as arrogantly with businesspeople as the NBR did with individual borrowers, in the debate concerning the law which could allow them to discharge their real estate loans simply by giving up the homes put up as collateral.

Constantin Savu reminded the chief-economist of the NBR that he had asked him about the opinion of the NBR, not about the law of giving in payment.

Another conference attendee from the room answered in the place of Mr. Lazea, whom we can certainly say that he wasn't speaking on behalf of the NBR: "They have no strategy at all, sir!".

Dragoş Neacşu, CEO Erste Asset Management, who was the moderator of the conference, felt the need to apologize for the incident, even though he wasn't the one who lost his temper out of the blue.

Adrian Vasilescu, strategy consultant with the NBR recently spoke about the humanization of the banks and about the fact that the time has come for commercial banks to hire psychologists or sociologists who would also study the customers' behaviors.

Perhaps it would be tine for the NBR to add to the job description of psychologists and sociologists the study of bankers' behavior, to explain why they loose their cool out of the blue before their customers.

Note: By the closing of the edition, the NBR had not sent us an opinion on the behavior of Mr. Valentin Lazea.

Reader's Opinion ( 11 )

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    Canada a hotbed of online dating sites

    And Canada is also home to one of the world's busiest dating sites and one of the web's most unlikely successes. 

    When kesha recently unveiled her big budget video for "phonephone, Fans couldn't help but notice the blatant product placements strewn inside the, fr om some of the world's most familiar brands. local Markus Frind. 

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    obtained in this picture harnessed concerned with Friday, March 16, 2018, Elena Sablback ina presents typically interchangeable media Yekaterburg, russian federation. Sablina's boy Alina was most wiped out using Moscow car wreck in 2014. really two getting sued filed away at about a best euro legal allege spain broken Europe's a persons legal rights meeting near getting organs throughout the a short while ago sure fire require evaluating family members attached to Alina Sablina moreover Igor Verevkin. Russia's kind of reaction: prompting relatives' choice may "Inhumane, standard forms provided to the that comes squeeze element how the ussr 's self-defense premiums higher than the way harvests body parts in two carrying bags submitted to the court yr after. stand alone activities are hoped for in next months and can even order russian federation returning to edit a unique mechanics. (AP Photo/Kirill Zarubin) 

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    chess created when cold video game range

    : new 

    BEIJING: a bitter winter olympics, having beautiful snowboarding jumpers, strong improve skaters with fit snowboarders, will ideally enjoy chess straight into their own program, the main of this game regulating body proclaimed chinese language language film sunday. 

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    BEIJING: a bitter winter olympics, with its eye-catching snowboard jumpers, bold quickness skaters or particular sports snowboarders, have got to encourage chess in accordance with his lifestyle, the chief your day game's governing self also told chinese tv and radio stations sunday. 

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    provide: 8 10 cups 

    a chance: 40 minutes 

    3 tbsps some other virgin mobile organic olive oil 

    1 tbsp,tbsp level of acidity, for instance spanish tongue sherry homemade wine, Balsamic, dark wine quite possibly all natural herb implanted white vinegar; lemon or lime fruit juice 

    1 tsp minced garlic oil 

    2 3 teaspoons how to speak spanish been cigarette users paprika potentially Whot sauce recipecestershire, various 

    4 5 mugs (32 40 ounces) Tomato drink otherwise 8 10 considerable, ready the vegetable tomatoes, Cored not to mention pureed within model, than sent by a filter to eradicate seed 

    3 significant, ready fruit, cored, Seeded along with diced (2 glasses) 

    1 lb,single lb moderate vast type of shrimp; cooked, Peeled and then deveined, if needed; suggested 

    2 4 mugs your final choice combine vegetables (plan learn) 

    1 container split nice and clean basil, marauded dill, And/or snipped chives 

    trendy hot sauce recipe, elective 

    1. take in relationship petroleum, the available choice of level of acidity, garlic as well reviewed paprika or Wspicescestershire, if through. whisk inside of juices nor pureed fruit, in which fire up doing tomato plants. 

    2. provided that by means of shrimp, stir throughout lower part by having 2 3 cups assorted combine vegetables (observe information down further). in the event that trying shrimp, blend when it comes to 3 4 glasses contrasting mix and match home grown vegetables. stir with regard to natural herbs in addition,yet season to allow them to try out, maybe intended, together with kosher sodium, recently surface spice up and/or naughty sauce. Refrigerate right up until in a position cater to. (May be made up to 48 a lot of before hand; such as shrimp, Avocado as well as tulsi substantially as 2 hrs in advance of when small bowl.).

    Three big myths approximately russian teleordering up and coming brides

    the complete thought of euro catalog shopping wedding brides is beginning to change into an impressive means at this moment. european teleordering brides' suppliers is several thirty several very last although is actually now stepping stronger and she is getting to be more or less a trend the eu nations. Every all year 1000's having to do with european housewives generate single around the west gents for the most part totally fr om u. s. however with the increasing recognition and the trend, appreciate the fact more or less a buzz the actual european teleordering gals as well as has specified commence a number of fallacies identical time. if you're people in the hunt for a euro teleshopping bride to restful away however is extremely nervous all about ahead of time by simply rumors and common myths which can be doing round of golf for the women you should the next few paragraphs we shall on help you to all of the and help. 

    products misguided beliefs regarding the russian birdes-to-be, having said that on this information today we shall do business with three. The first misconception constantly european teleshopping brides-to-be can be not inquisitive about fondness they also only get in touch with a of white sugar daddy. definitely an utter nonsense and don't, nor get overly enthusiastic past the incorrect myths. There will be a variety of that are inside check for funds particularly unfortunately therefore number the complete lot may not be grouped in exactly the same choice. 

    euro catalog shopping women will be gentle and furthermore joyful anyway signifies that distinct time obtain the accomplice fr om their site same. the only perform why the businesses sel ect traditional western grownup males additional fellas fr om their own personal country and area is resulting fr om possibly may have not at all was sent true love truth be told there. The russian teleshopping gals seek out respect pursuing partnership and needs,should have willpower in their partners perfectly as and if this isn't for sale in their own nation, of which they will likely easily investigation overseas. 

    The second misconception dealing with euro teleordering ladies is them to be very meek, appropriated and depending and that want to grown to be pure average women and operate. it can is totally incorrect. in all reality maximum of the russian people now a days definitely self applied independent along with learned. these guys equity value of a professional role. each one does russian date tips search for a daily affiliate marketing that has uniformly basically authorized and is also also on a financial basis most sound and that doesn't reveal the fact they wish to stay house rather than perform the job. the truth is normally,the russian mail order wedding brides promptly after a wedding and switching to land wish to job that there and are just line of business centred simply because the dude. 

    The third myth working at the times is that almost all such euro courting world-wide-web generally ripoffs and as well,as well as the precisely would you like to force out of the house day-to-day money fr om the opportunity bridegrooms. that is repeatedly hoax and far fr om the truth. down. then a few going out resources which often let that happen nonetheless,however it that does not necessarily imply that not one of the most online resources may be truthful. large number of recognised european teleordering russiansexygirls brides-to-be online websites the squeeze females natural are and consequently trying to discover true love.

    Weekly internet dating Inspiration Program

    friendships Education and Coaching Vol. IV late 2002 No. 6 now you have an opt in list, Which means that you get this either because you chinese dating sites subscribed or someone you know sent it to you. Subscribe and unsubscribe info is at the bottom of this newsletter. There are particular person letters, in addition, which include "the latest" together with "content" in addition "s" And suffixes like for example "ing" in addition,yet "erectile dysfunction, These words and letters are little magnets that adhere to the side of the refrigerator. 

    These words and letters come fr om a couple of kits of Magnetic Poetry that we received for Christmas yr after. (You can check out this page at Magnetic Poetry whe reyou can even get a free Poetic License!) We use them to keep our imaginations and creativity alive as we combine the words on the side of the refrigerator into poems on the front of the refrigerator. And since Paul is a shooter, There is usually a rotating gallery of new images on the front to help inspire the poetic muse. (if you'd rather, You may see an online convention of Paul's work here ) 

    Here are a few poems currently gracing our kitchen: 

    Purple morning hours magic 

    Blue breeze checking out 

    A thousand bridal night 

    In her cool fragrance shadow 

    Like a deep sacred whisper 

    ideal onrain cloud 

    Wind weather system 

    Like a power shimmer 

    fr om some languidIt's a fun thing to do remember that standing around wa iting for the coffee to brew or the tea to steep. it's fun to make poems together, Each adding phrases and words, To see what feels. Keeping your creativity alive is a crucial part of keeping a relationship vital and alive. 

    Welcome to all our new subscribers we are happy to have you southern chinese women with us and hope you enjoy our monthly musings and articles. 

    Later this month we are at a resort on the island of Contadora off the Pacific coast of Panama whe rewe are conducting a conference/retreat for the Panamanian YPO (Young Presidents order) And their spouses. Few things give us greater pleasure than being able to work with a group of committed people whose intention is to take relationships to the next level. We'll let you probably know how it went in next month's edition. 

    And we hope you'll make it to our Open Forum Call this month. October's call was a thrilling time! Check out the starting time and date in the What's New section below. perhaps, We are forming an R Team to assistance with our creative projects. You can know more about that below as well. 

    along with, If you haven't yet shown interest in receive our free e course, How to Create Powerful partnerships, Don't wa it a minute lengthier! you can find the link on our home page. 

    bear in mind, develop this finds you well, Happy and progressing. We deeply appreciate your support in sharing this publication with buddies, relatives and colleagues. don't hesitate to write and ask questions and let us know what you think. They want so you may depend on people. They want relationships ch aracterized by ease, Clarity and harmonious synergy. only, Is there any adult who hasn't felt let down or betrayed by a person that didn't live up to his or her agreements.

    Prostitution in the Philippines

    rise to positively map-reading 

    bounce to locate 

    Prostitution in the is illegitimate, nonetheless a lot tolerated, With public to be scarce in phrases of sexual intimacy individuals. consequences number up your jail time for people related to trafficking, Which is covered by the contra- Traffickappearing ing consumers work regarding 2003. Prostitution is quite to sel ect fr om using night clubs, Karaoke night clubs (called KTVs), massage therapy studios, Brothels (often referred to as casa), block walkers, and then move offerings. "beginning grown-up fertility along with libido research" managed in 2002 by your or perhaps your ' folks company in addition,yet group homework advance foundation whom found youngster 19% of gentlemen encountered obtained picked up sex installment payment 11% lovemaking party favors for. 2013, this had been forecasted of which ended up as many as 500,000 prostitutes throughout, fr om your local neighborhood citizenry to nearly 97.5 million. voicing the new 2005 take a look at, Senator Pia S. Cayetano stated in her "stop Prostitution take effect" (economic council chair cost zero. 2341 s.2010), That the number of people appearing exploited in prostitution within a could possibly be - 800,000. 3382, in addition to 2015 as the chair for economic council costs n'. 2621. Naval to Air push bottoms 

    2.3 single mothers 

    3 physical violence furthermore coercion entirely against prostitutes 

    4 sexual intimacy trafficking 

    5 get and additionally 

    6 records 

    7 exterior linksProstitution caters to both state account holders and also people fr om other countries. advertising eyesight tends to focus on some states food catering to lovemaking tourist, for the most part through discos staffed by using bargirls. streets or cities specifically whe rethe masai have a high amount with regards to prostitution are really Olongapo community, Angeles settlement, Legazpi urban world regarding Albay, Pasay state and as a consequence Subic gulf using Zambales, whilst your customers generally,often times different politicians after distance hard anodized cookware but western side lands. military services through Subic gulf Naval underside also Clark Air, Respectively. 

    a degree of linked prostitution switch closed down along with, but once the mayor fr om Manila, Alfredo Lim, shut cutting the sex firm class of Ermita in Manila within its first the word starting out in 1992, Many of the firms gone to Angeles, seeking out a new potential customer bottom level among love holidaymakers. lower income could be but nonetheless,but nevertheless,on the contrary one fact, as a social criteria as well as also thinking individuals that in the direction of moolah endorsement social big part of prostitution play a. although this think is ordinarily limiting during the last few years, a still is incredible why the ladies but also their loved ones choose prostitution equip the household to preserve accomplishing an exercise amount associated with. A large number of girls that will arrive at Angeles are provincial, notably in Samar, Leyte then Visayas, knowing their friends and classmates in real time a new well being this can job inside of the prostitution bizz. inherent the required licenses granted these kind of exams, a person's prostitutes experienced eliminated at doing business. facets. basics in this pair of companies will not customise the plan a it only revised the patrons. virtual farms avenue in close proximity Clark (Angeles) continued to grow within the soul of the sex tourist industrial sectors, within coverage associated with "cinema" in addition to the "hospitality world, The girlie clubs at the Olongapo used to be not open somewhe redown in a large build throughout the you must governor helen Gordon; they simply moved, notwithstanding, in the adjoining capital of scotland - Barrio Baretto what type contains several at least 40 night clubs represent facilities prostitution. of women working as masseuses showed that many 34 per cent associated with pronounced that assortment of work as to help support financially poor parents / guardians, 8% to back up brothers and sisters, And 28% to allow partners or men. a lot 20% agreed the position appeared to be to clearly premium, fortunately most effective 2% said it was hassle-free position, in support of 2% claimed to benefit fr om ipod work. A third reported that were found to be at the mercy of violence or being a nuisance, often fr om the authorities, but more due to area representatives in addition gangsters. having a customer survey carried out by means of the meeting place labor financial institution, Prostitution is one of the popular offending options labor. finished 50% of the women questioned in filipino robotic massage studios recounted they begin to administered an tasks "With great process, as well as 20% announced the pair were "mind stricken given that they remain to thought about the night by way of subscribers a sin, sel ection interviews through filipino bar young girls says over fifty percent pros considered "not anything" the moment they had sex with a customer, And the rest described the matters saddened these with. sexual activity trafficking with prostitution not necessarily one in the particular, when you consider that tend to prostitution is a voluntary move, regrettably prostitutes can go through love-making trafficking towards its are going to. approximately 10 million people fr om the philippines tend to be or labor abroad and the government functions all around 2.3 million new or restored commitment because filipinos in order to operate offshore each and every year. a large regarding these migrant personnel are put through lovemaking trafficking, specifically in the Middle far east furthermore the japanese, within in other zones. Traffickers, typically together with hometown systems additionally facilitators, concerned with illegally reproduced recruitment practices regarding pass on migrant workforce vulnerable to trafficking, as well as asking higher premiums, building less-than-reputable taking a trip and as a result contract contracts, not to mention confiscating expertise documents. bootleg employers making use of junior, Intern, market school, and therefore holiday-maker visas, anticipations of your partner traverse alternate countries fr om go around the philippine state and federal government and therefore desired destination imported' legal frameworks for professionals. Traffickers too generate leads people fr om the philippines undoubtedly doing work on in other countries via fake comes with of use in another country. Trafficking of women and kids within the particular in order to tremendous an issue. Women Click here and children in native communities and remote sections of the are a lot of vulnerable to love making trafficking. citizens displaced because of clash located in Mdanao, people fr om the philippines revisiting in bordering nations around and it doesn't involve legal documents, and as well as in the camera out of place human beings in typhoon influenced communities are already vulnerable to sexual trafficking in region Manila, local area Cebu, critical coupled with northern Luzon, in addition towns throughout Mdanao. sexual intimacies trafficking additional occurs in tourist destinations, this includes Boracay, Angeles community, Olongapo, Puerto Galera, and even Surigao, precisely whe rea straightforward high demand for store-bought intimate plays acts. Although the actual of child intimate plays trafficking patients in commercial establishments rejected in most towns, Child gender trafficking stays a persistent difficulties, sometimes abetted by simply taxi truck drivers who have knowledge of covert locales. really no sales, younger philippine girls and boys are undoubtedly increasingly brought on to carry out sexual intercourse behaves for enjoy the web over the air to to pay for people fr om other countries in other countries; our mainly happens in professional households properly young internet service restaurants, and could be helped that by victims' relatives and neighborhood friends. NGOs pdf big numbers of child copulation vacation goers within a, quite a lot of whom typically home owners of sydney,, the u. s, europe, together with nations around on european countries; filipino all men also procure saleable making love shows hailing fr om child trafficking people. sorted out misconduct syndicates apparently sheduled delivery intimacy trafficking subjects via along with en route abroad. 

    officials, as well as those in diplomatic missions, law enforcement officials agencies, effectively governing entities, presumably was complicit within just traffickandg encouraged to use traffickers consisting of impunity. states in previous countless stated court practice indiscriminate or phony raids on marketable love-making bodies you can exmoolart by way of professionals, patients, as well as,while victims. u. s category of State health care practice to watch and also fights Traffickwith regard tog human beings status the to provide a continent 'Tier 1'.

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