Head of euro zone, Trichet, to attend NBR's 130th anniversary on Sunday

31 aug 2010 Ziarul Financiar

Jean-Claude Trichet, European Central Bank president, will be in Bucharest on Sunday to deliver a speech before the gala concert to take place in the evening at Ateneul Român for NBR's 130th anniversary.
President Traian Băsescu and NBR governor Mugur Isărescu will also hold speeches in the first part of the event.
The visit of the head of euro zone central banks comes in the very context where Bucharest is seeking a new deadline for euro adoption, after both Governor Isărescu, and President Băsescu have recently stated that January 1, 2015 can no longer be a realistic date against the new macroeconomic background marked by the prolonged crisis.
Thus, the Government will have to discuss a new target with the NBR, but for the time being Finance Minister Sebastian Vlădescu is unwilling to come up with a position in this regard. Analysts expect euro adoption to be delayed to 2017 or even after 2020 for the Romanian economy and public finances to have time to gear up for the euro zone.
This is the first time NBR's anniversary is turning into such an event attended by many foreign guests and the second time that Trichet, running the ECB since 2003, comes to Romania as head of central bankers in Europe, with the first visit taking place in the autumn of 2004.
Trichet had visited Bucharest in 2000 as governor of the Bank of France.
The head of the US Federal Reserve, Ben Bernanke, had also been invited to attend the event, but he did not confirm his participation.