Financial Times: Investment bankers keen for Romania's eurozone membership

The chief executive of Erste Assets in Bucharest is keen for Romania to join the eurozone, according to the Financial Times, which describes the enthusiasm for the single currency as unusual in the present financial context. “Our lives should be less in the hands of the politicians and more dependent on the real economy,” said chief executive of Erste Asset Management in Bucharest Dragos Valentin Neacsu, quoted by FT. He suggests that it is not the euro itself, rather the criteria Romania would have to meet that are of interest. The rules would make the country more predictable and allow companies to access funding on the domestic and international markets, according to Neascu. The Financial Times underlines the disappointment of the failed privatizations this year and argues that investors will be looking for conclusive election results in December to end the “political squabbling” and get the privatization program demanded by the International Monetary Fund back on track. But it's not only the big state owned companies that are of interest, “Investment bankers have drawn up plans to list family businesses that have developed over the past 10 to 15 years in sectors such as pharmaceuticals and tourism, but these exercises have not been concluded,” said Neacsu, quoted by FT. Read the Financial Times article. Liam Lever, liam@romania-insider.com