Romania's foreign debt triggered by population over borrowing, not banks, says BNR Governor
"Romanian banks have foreign assets of EUR 2 billion, while their domestic assets reach EUR 50 billion. In other words, the banks did their job on the local market (…). Therefore, the banks in Romania are only to be blamed, to use a strong word, for EUR 22 billion out of a EUR 90 billion external debt," he added.
Around 4.5 million Romanians borrowed money from banks over the past years, equal to half of the country's workforce, Isarescu said. Only about EUR19 billion of Romania's external debt represents public debt, he said, mentioning that the level was "manageable."
Mediafax