Comment: What a day! Romanian Government shaken, head of financial authority arrested, and largest energy producer back to insolvency, all in one day?

26 February 2014

My husband and I are both journalists, and even if we try to leave work aside at the end of the day, and refrain from debating the news topics of the day, there are days when it's almost impossible to do it. News are such a big part of our lives.

This Tuesday – February 25 - was one of those days. After weeks of political tensions and all sorts of news (see Astra insurance firm under special administration, Ukraine uprising), the day seemed a peak.

The head of the country's top financial regulator was arrested in a corruption case – later on released and to be investigated while free. This was unexpected news number 1.

On the same day, a former board member at Hidroelectrica, Romania's largest energy producer, said that the company is in fact back to insolvency after a recent court decision. We're talking about a company which managed to exit insolvency in a year and which should be listed on the Bucharest Stock Exchange, and perhaps even on the London Stock Exchange sometime this year.

I wonder how the Government will manage to pull that out? But I guess they have bigger problems now that the ruling coalition collapsed. On Tuesday late at night, it was finally official: the Social Liberal Union USL, the country's ruling coalition since 2012, ceased to exist. The National Liberal Party PNL decided to withdraw, and to move to opposition. I don't do politics, and I hate it when the country's in dire straits because of these political battles, but I feel everyone these days if better, more vocal and more fluent while in opposition.

Are we a culture of destruction?

By Corina Chirileasa, corina@romania-insider.com

Normal

Comment: What a day! Romanian Government shaken, head of financial authority arrested, and largest energy producer back to insolvency, all in one day?

26 February 2014

My husband and I are both journalists, and even if we try to leave work aside at the end of the day, and refrain from debating the news topics of the day, there are days when it's almost impossible to do it. News are such a big part of our lives.

This Tuesday – February 25 - was one of those days. After weeks of political tensions and all sorts of news (see Astra insurance firm under special administration, Ukraine uprising), the day seemed a peak.

The head of the country's top financial regulator was arrested in a corruption case – later on released and to be investigated while free. This was unexpected news number 1.

On the same day, a former board member at Hidroelectrica, Romania's largest energy producer, said that the company is in fact back to insolvency after a recent court decision. We're talking about a company which managed to exit insolvency in a year and which should be listed on the Bucharest Stock Exchange, and perhaps even on the London Stock Exchange sometime this year.

I wonder how the Government will manage to pull that out? But I guess they have bigger problems now that the ruling coalition collapsed. On Tuesday late at night, it was finally official: the Social Liberal Union USL, the country's ruling coalition since 2012, ceased to exist. The National Liberal Party PNL decided to withdraw, and to move to opposition. I don't do politics, and I hate it when the country's in dire straits because of these political battles, but I feel everyone these days if better, more vocal and more fluent while in opposition.

Are we a culture of destruction?

By Corina Chirileasa, corina@romania-insider.com

Normal
 

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