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Chewing gum 'stolen as Romanian currency'

 58569098 chewinggum copyHundreds of pounds worth of chewing gum is being stolen from British stores to use as currency in Romania.

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Romania is the country with the lowest absorption of EU funds. "It’s a reality we cannot deny," says PM

figures currencyRomania is the country with the lowest degree of absorption of European funds, and this is a reality which cannot be denied but steps must be taken to improve it.

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New Romanian PM asks IMF mission chief back to Bucharest soon after previous visit

ungureanu-gov-tribunaRomanian Prime Minister Mihai-Răzvan Ungureanu ( in picture) invited the head of the International Monetary Fund (IMF) mission to Romania, Jeffrey Franks, and Istvan Székely, the director for Romania with the European Commission, to a meeting in Bucharest between February 21 and 22, to talk about ‘current economic issues’.

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Romanian health system lost 10,000 doctors to higher salaries abroad

2081d85a3e07ee4c4da8a98b7c8a59ebRomania has lost around 10,000 doctors in the last five years, as better pay has tempted medical professionals to emigrate , according to Vasile Astarastoae, president of the Doctors’ College in Romania.

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Romania to sell Transelectrica stake in March

222891-transelectricaRomania plans to launch the sale of a 15 percent stake in state-owned power grid operator Transelectrica next month, an adviser on the listing was quoted as saying by daily Ziarul Financiar.

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Romanian Inflation Rate Drops to Record Low on Food Prices

7311234949259  baniRomania’s inflation rate dropped faster than economists estimated to a new post-communism low in January, as faltering economic growth and a bumper 2011 harvest limited price increases.

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Romania shouldn’t start a new agreement with IMF, says Central Bank Governor

mugur-isarescu-agerpres-okRomania shouldn’t sign a new agreement with the International Monetary Fund (IMF), because it would not send a good message, said Mugur Isarescu, the Governor of the Romanian Central Bank (BNR).

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A Romanian national fund unlike any other


FP12Fondul Proprietatea is a national fund unlike any other. It was set up in December 2005 to compensate people whose assets were confiscated under Romania’s Communist regime and has no equivalent elsewhere in eastern Europe.
Moreover, investment management has been outsourced to a single fund manager, Franklin Templeton, which manages about €3.3bn of Romanian state assets.

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Romanian aid deal on track, IMF, EC and World Bank say

862-1mr7bH.Em.55The same day that Romanian prime minister Emil Boc resigned, a statement in Brussels by the World Bank, European Commission and International Monetary Fund said that the aid programme for Romania was on track.

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Romania's central bank cut its benchmark interest rate to 5.5%

imnSNeaRc29kRomania's central bank cut its benchmark interest rate for the third time in as many meetings. Newswires reported a record-low inflation rate makes room for further easing this year to boost economic growth amid Europe's debt crisis.

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Aggelos Stagos

Let's Do Our Bit Now

Let's Do Our Bit Now

A Greek sigh of relief should have been heard to the end of the world after Eurogroup’s approval of the country’s bailout program on Monday, which prevented a direct risk...

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Grigoris Nikolopoulos

A Clear Choice

A Clear Choice

Monday’s Eurogroup agreement may not be a cure-for-all Greek ills but it is certainly the best we could have obtained presently.

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Grigoris Nikolopoulos

The Hour of The Private Sector

The Hour of The Private Sector

If Greece’s international creditors, the so-called troika, ultimately succeed in persuading our politicians to shrink the public sector, they will have addressed the core of the country’s problem. For the...

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Grigoris Nikolopoulos

Only One Good Scenario For Greece and Europe

Only One Good Scenario For Greece and Europe

  Europe has been trapped in its own foolishness, incompetence and heartlessness, and will soon be forced to change to avoid dissolution.

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Nikos Chrysoloras

Why The Germans Are Wrong

Why The Germans Are Wrong

Many in Europe –particularly in Germany- wonder why they should continue providing financial support to a country that has failed to honor its commitments with partners and is an international...

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Grigoris Nikolopoulos

A Punitive Program

A Punitive Program

The reduction in incomes which Greece’s new economic program brings would make sense only if we could hope that the problems of recession and the country’s excessive debt could be...

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Aggelos Stagos

No Elbow Room For Politicians

No Elbow Room For Politicians

It’s a curious thing that even at this crucial moment, when the future of the country hangs in the balance, its political class cannot clearly “read” our creditors’ stance and...

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Takis Lainas

Apocalypse Now!

Apocalypse Now!

We are all watching breathless the endless unpopular serial of Greece’s negotiations with the troika, wondering whether our political leaders will finally utter “Yes” or raise the flag of the...

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Aggelos Stagos

Destined to Sink?

Destined to Sink?

The negotiations with Greece’s international creditors –the so-called troika- on the final details of the economic program that will accompany a second, €130 billion bailout loan seem to have developed...

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Nikos Chrysoloras

The "crucial next 48 hours”

The

If I come across the expression, “crucial next 48 hours,” again I think I am going to have a nervous breakdown. Our political leaders are bent on rattling our nerves...

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Grigoris Nikolopoulos

Histrionics

Histrionics

Greek political leaders on Sunday put on their brave faces, in the best of patriotic traditions. They would have us believe that they were resisting the demands of Greece’s international...

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Takis Lainas

Much Ado About Nothing

Much Ado About Nothing

The demand of Greece’s international creditors, the so-called troika, for a lowering of Greek salaries and wages is not just devoid of substance but also dangerous.

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Aggelos Stagos

Do It Like Boutaris

Do It Like Boutaris

There is no doubt that the German proposal for the appointment of an economic overseer, whose main task would have been to ensure the repayment of the country’s debt, was...

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Grigoris Nikolopoulos

European Immorality

European Immorality

Europe is regarded as the world’s ‘ethical force’. Today, however it is in danger of losing this important title because of its immoral choices in tackling the debt crisis.

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Grigoris Nikolopoulos

The truth about the PSI and bank shares

The truth about the PSI and bank shares

Because so much has been heard and written about the PSI which not only affects us psychologically but our investment decisions as well, i.e. the equity markets, it seems important...

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Grigoris Nikolopoulos

Two simple interventions for development

Two simple interventions for development

Whilst we all appreciate that the economic recovery is the only way to solve the problems of Greece’s deficit and debt, the Greek government is not in a position to...

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Aggelos Stagos

The war against Papademos

The war against Papademos

As to whether it is perceived or not, certain individuals, in cooperation with the media, are attempting to destroy Papademos as ‘evil’, ‘merciless’ or even as a ‘failure’.

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Nikos Chrysoloras

Greece's lost wealth

Greece's lost wealth

Αsides from negotiations concerning the private sector’s ‘voluntary’ participation in cutting Greek debt, the essence of Greece’s actual economy has been condensed into one phrase by the Troika.

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Nikos Chrysoloras

A public problem for Greece

A public problem for Greece

The discovery that almost all the national television channel’s journalists who had been on strike for weeks, were paid in full, either because they took sick leave or because they...

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Aggelos Stagos

A lack of restraint flares up again in Greece

A lack of restraint flares up again in Greece

After a respite of relative calm, which many associate with Papademos’ premiership and as a result, the Greek public’s raised expectations, unfortunately jeering and violence have emerged once again.

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Nikos Chrysoloras

Why isn’t Greece competitive?

Why isn’t Greece competitive?

The debate on the Greek economy’s restoration came to the fore once again as it now seems inevitable that labour costs will be reduced through eliminating the 14th salary in...

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Dimitris Kastriotis

Greece’s powerful institutions (It’s just that the banks, the press and the politicians are suffering)

Greece’s powerful institutions  (It’s just that the banks, the press and the politicians are suffering)

Recently, the whole issueof lending – or indeed the refusal to lend funds to Greek media companies, has come to the fore – all based on the political business dealings...

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Aggelos Stagos

Europe wants Greece in the Eurozone on condition that their terms are accepted

Europe wants Greece in the Eurozone on condition that their terms are accepted

If the statements hold any political value – and are in fact reliable, yesterday, Merkel, Sarkozy and Schauble (in the background) made two points clear: They want Greece to remain...

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Grigoris Nikolopoulos

Politicians and the public administration are harming the private sector in Greece

Politicians and the public administration are harming the private sector in Greece

Under the pressure of the present circumstances and that of our partners and lenders and from the parties who are supposedly supporting him, the Prime Minister, Mr. Lucas Papademos has...

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Nikos Chrysoloras

Who will replace George Papandreou?

Who will replace George Papandreou?

Sooner or later, George Papandreou, former Greek Prime Minister and President of the Socialist Party (PASOK), a man whose actions were incompetent and erratic, who probably would never have held...

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Nikos Chrysoloras

The Greek Paradox

The Greek Paradox

In its report on the threats and dangers that our planet faces (2011 Global Risks Report), the World Economic Forum confirmed a paradox: The problems that transcend national borders and...

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Aggelos Stagos

2012 will prove to be a decisive year

2012 will prove to be a decisive year

Forecasts point to the fact that 2012 will be a very difficult year, maybe even more difficult than 2011, if that is even possible.

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