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The US Treasury yield curve has inverted as 3-month yield tops the 10-year yield. This is the first time that this has happened since 2007, and the WSJ noted that the move had preceded every recession since 1975. As the…
Read moreAnd that will happen irrespective of the political leanings of the party. This should not take us by surprise. It comes with the procyclical policies which have been the mainstay of Romania`s development over the last decades, a country that…
Read moreRomania has a new target date to join the eurozone:2024. That was an occasion for me to update the graph that tracks the many deadlines to join the eurozone that Romania has had over the years. The arrows start from…
Read moreNo business in the world is possible unless one condition is met: that both clients and shareholders perceive it as being useful to them. Should one of the two partners fail to see the benefit is enough to start questioning…
Read more“Somebody asked me the other day if I saw a threat of a self-induced crisis in Romania despite a stable international environment. A legitimate question because, in my opinion, if the 2008 world crisis hadn`t happened Romania might have been…
Read moreI know that it sounds grand and dramatic. Mainly in Romanian, as in the Anglo-Saxon financial literature the notion of „wealth destruction” does not herald a piece of tabloid news. The concept is as serious as it gets, discussed in…
Read moreAt the beginning of the `90s when I started my studies to transition from being an aircraft engineer to a management consultant, one of my English professors conducted a survey. As a specialist in organizational behavior, he wanted to assess…
Read moreIn a discussion I had before the Emergency Ordinance (EM) issued by the Romania Government bringing a whole host of new taxes and duties was voted in, an important person was telling me that: “To assume that a political decision…
Read moreThere is a long-standing misunderstanding in the public mind. It must be corrected because it is significant. Many people ask when the next crisis is going to strike again, without clearly discriminating between recession and a full-blown crisis. A recession…
Read moreSuch a question, asked on the 100th aniversary of the Great Unification, might be called a blasphemy. And yet, I believe that we would be seriously misguided to imagine that, no matter how the country is run, it is condemned…
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