Senate President Calin Popescu-Tariceanu on Wednesday stated that the degree of financial intermediation in Romania is "extraordinary low," in which context the Government "shouldn't just witness this major derailment of the banking market and needs to intervene."
"The degree of financial intermediation is extraordinary low and the banks prefer to place the deposits they have in state bonds, which are also remunerated from the budget from the taxes of each contributor and they do not make these banking intermediation operations, although there is a record showing that the profits of banks in Romania are much higher than those of banks abroad, with the intermediation degree being by four folds higher in Occident than in Romania. (...) We have nothing against profits that the banks must make. Banks are institutions meant to make profit but, at the same time, this profit must be based on an effort to get involved in the banking intermediation, which is specific to any banking market and any economy," explained Tariceanu.
He was asked how he commented on President Klaus Iohannis's statements regarding the announcement made by the Minister of Finance, Eugen Teodorovici, regarding the introduction of the "tax on greed" for the financial-banking institutions, in case ROBOR for 3 and 6 months exceeds a certain limit.
Read also: President Iohannis about GEO to increase taxes: 'It's obvious there is a problem with the budget'
"I saw that the President was holding a press statement, I saw that he was angry against the ruling coalition and the Government, and I also think that he made a confusion, from what I hear, for yesterday Minister Teodorovici did not speak about a tax "on greed," like they called it, and I don't know if this is the best wording, it's about banks," said Tariceanu.
The Senate President added that the GEO announced by Teodorovici also includes a series of provisions for the companies in the energy field, which target the companies that "smartly, through all kinds of mechanisms" avoid to pay taxes in Romania, which cannot be accepted.
President Iohannis on Wednesday stated that the Emergency Ordinance announced by the Minister of Finance, Eugen Teodorovici, which "introduces new taxes and fees," comes with "unheard ideas" and "throws the economy into chaos." AGERPRES .
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