| Headline: More questions than answers? Source: Euromoney Date: September 2000 Author: Erik D’Amato more on Banking more on central & eastern Europe more from Euromoney September 2000 A run on Romania’s biggest bank was stopped in its tracks. The episode highlights nervousness in the system as banks are being readied for sale. Some on the inside say the situation’s not so bad as it looks and that the supervisors are getting tougher. But foreigners are still asking a host of questions, as Erik D’Amato reports Earlier this year, Romania’s largest bank, Banca Comerciala Romana (BCR), suffered a humiliating two-day run at the hands of its depositors following the collapse of the country’s largest investment fund, the Fondul National de Investitii (FNI).
“They used phone banks manned by gypsies,” the banker recalls, declining to attach a name to “they” but acknowledging with a wry smile his admiration for the conspirators. |