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STOICA & Associates conference: restructuring the banking system, from NPL's to full credit recovery

2013-05-21 14:06:22

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Starting with Bear Sterns and Lehman Brothers, expanding in Europe and the entire world and still continuing to make victims after more than five years - as recently showed for Cyprus, the global financial system crisis seems to be quite far from a final settlement.

In a fully globalized world and in the era of information society, Romania could not be shunned by the systemic effects of this economic and credit crisis. Romanian financial system is facing perhaps the greatest challenges in its history and is fighting to overcome them with minimal "collateral damages".

In this context, STOICA & Associates law firm organized in partnership with Ziarul Financiar on Tuesday, May 14 at the Marriott Hotel in Bucharest, the conference "The banking system: between the restructuring of non-performing loans and credit recovery", where the invited speakers delivered an in-depth analysis of the current situation of the Romanian banking system and touched upon the measures that have to be taken in order to strengthen it.

Gordon W. JOHNSON, President of EM Advisors LLC, Washington DC, US, Jurgen Kristiaan de Ruijter, Director Division of Rehabilitation and Restructuring, BCR - Erste Group, Bucharest, Milo STEVANOVICH, IFC Program Manager for Middle East and North Africa, Cairo, Egypt, Steven van GRONINGEN, former President of the Foreign Investors Council, Romania, Marieta AVRAM, Senior Partner at STOICA & Associates and Catalin PAUNA, Senior Economist, World Bank Office in Romania were the speakers answering the questions with regard to the measures that could be taken to bolster Romanian banking system, and regarding the legislative hurdles to be removed in order to upstream the necessary structural reforms.

During the two sessions of the conference brilliantly moderated by Mr. Valeriu Stoica, Founding Partner at STOICA & Associates, the speakers analyzed the situation of Romanian banking system in the international and European financial context and addressed, among others, current trends regarding the management of non-performing loans, the practical aspects from implementing restructuring process. It also discussed the situation of the Romanian economy and exploring opportunities for private investment in certain sectors as an important element of sustainable economic growth.



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