Romania's ambitions for the Bucharest Stock Exchange (BVB) stay high, as it seeks to acquire the status of emerging market, the Ministry of Finance said on Saturday in a release.
Minister of Public Finance Eugen Teodorovici attended on Friday in Vienna the informal meeting of the EU Economic and Financial Affairs Council (ECOFIN), the EUROGROUP meeting in extended format and the EUROFI Financial Forum organized in association with the Austrian Presidency of the EU Council. On the sidelines of these events the Romanian Minister met with EBRD Vice-President Pierre Heilbronn.
"I would like to point out that Romania holds high ambitions for the Bucharest Stock Exchange, hoping that it acquires emerging market status. Winning this status would result in higher interest for Romania on the part of big investors and in a substantial increase in the market value of the companies listed on the stock exchange," FinMin Eugen Teodorovici told the EUROFI Financial Forum panel on Priorities for Further Developing Financial Markets in the CEE Region.
In the same context, Teodorovici presented the main measures taken by Romania to stimulate the stock market, as well as the country's commitment to carrying on in this direction, including by strengthening the dialogue with the main stakeholders.
Talks within the extended Eurogroup meeting focused on deepening the Economic and Monetary Union and the European Stability Mechanism (ESM). During the debate Romania advocated the calibration of the Banking Union for the common benefit of the euro and non-euro states and the introduction of a common stabilization tool in the ESM along with the credit lines in the participating non-euro states.
The subjects on the agenda of the first part of the informal meeting of the ECOFIN Council were the future challenges for the European Investment Bank (EIB), the implications of the interest rate increase on financial stability, and the economic potential and the risks of crypto-assets. The debate on the future of the EIB took place in the context of the institution's 60th anniversary, at a time when Romania exercises, through Minister Eugen Teodorovici, the Chairmanship of the EIB Board of Governors.
"Romania, as the country that will hold the Presidency of the EU Council beginning January 2019, as well as in its capacity as current holder of the Chairmanship of the EIB Board of Governors, will act for a balanced approach to the future role of the EIB as an financial institution of the EU," Teodorovici emphasized.
The meeting of the Romanian Finance Minister with EBRD Vice-President Pierre Heilbronn was a good opportunity to discuss the next Multiannual Financial Framework (MFF) 2021-2027 and the implications for the EU development finance architecture, in the light of Romania's taking over the Presidency of the EU Council.
At the same time, Teodorovici emphasized the need to develop a new EBRD country strategy in Romania, that should take into account our country's priorities, as well as European policies, in conjunction with the prospects of the next MFF. In this context, the Minister of Finance pointed to the importance of maintaining the selective and flexible character of the EBRD strategy in Romania, with a focus on continuing the dialogue on the impact of programs and projects funded and supported by the EBRD in our country.
Finance Minister: Romania further aspires to emerging market status for BVB
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