The Crisis and its Effects upon the Romanian Banking System

Vechiu Camelia (), Gherman Liliana – Victoria () and Tudose Geanina – Gabriela ()
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Vechiu Camelia: "Constantin Brancoveanu" University from Pitesti, Faculty of Management Marketing in Economic Affairs Braila
Gherman Liliana – Victoria: "Constantin Brancoveanu" University from Pitesti, Faculty of Management Marketing in Economic Affairs Braila
Tudose Geanina – Gabriela: "Constantin Brancoveanu" University from Pitesti, Faculty of Management Marketing in Economic Affairs Braila

Ovidius University Annals, Economic Sciences Series, 2013, vol. XIII, issue 1, 1580-1583

Abstract: The crisis has been perceived as a tsunami wave starting from the United States and gradually affecting the countries in Europe and all over the world and advancing kilometer by kilometer. “When the crisis reaches Romania”, “finally the crisis will hit us as well” or “the climax of the crisis will be reached in X month” are some of the useless phrases which we have heard and keep hearing daily in mass-media. Nevertheless, a closer analysis will reveal the fact that the economic disturbances generated by the subprime crisis in the United States are nothing but a facet of a much more complex relationship combining the external economic factors with other factors exclusively related to the Romanian environment. ID or any other type of loose crediting has been aggressively promoted in the local financial environment in spite of the repeated warnings of the National Bank.

Keywords: crisis; propagation channels; systemic risk; financing sources (search for similar items in EconPapers)
JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2013
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