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ZF English

Capital market relaunches next week

11 apr 2001 7

Relaunching the capital market by promoting a legislative set as announced last week by PM Nastase is no longer a top priority, as the PM on Monday said the meeting of the commission which would supposedly draft a strategy for "relaunching the capital market" did not take place due to the talks over the state budget draft.

The commission, comprised of Finance minister Mihai Tanasescu, the chairman of the Budget-Finance-Banks Committee within the Chamber of Deputies Florin Georgescu and National Securities Commission (CNVM) vice-president Gabriela Anghelache yesterday was supposed to present the Party of Social Democracy (PDSR) leadership with solutions, but this will not happen sooner than next week, according to Adrian Nastase.

He had announced the week before that he had ordered the establishment of such a commission as "following FNI crash, people's trust in the capital market, in RASDAQ, collapsed. It is our job to find solutions," he had said.

Ever since the beginning of his mandate, Nastase has shown concern for the fate of the capital market. At that time, he promised to consider the possibility of setting up a sole system for the supervision of the banking system, of the insurance system and of the capital market, with the exact purpose of restoring confidence in the above-mentioned institutions. But no one has heard about the project ever since.

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