Victor Ponta’s new government got off on the right foot last week by making clear that its economic policy will continue to be framed within the programme agreed between Romania and the EU, World Bank, and IMF. The IMF programme sets out what Romania needs to do, both in terms of fiscal consolidation and structural reforms, to create a path to sustainable economic growth. At a time of uncertainty in … Read more »Romania’s new government: week one
The Grey Partridges
I very recently took part in the launch of a new book covering the most remarkable chapter in the history of relations between Britain and Romania. Professor Costel Coroban has researched and presented the extraordinary story of the Scottish women’s ambulance corps (known as the Grey Partridges because of the colour of their uniforms). This formidable group of women provided medical help to soldiers on the Romanian front in the … Read more »The Grey Partridges
Easter with Stefan cel Mare
I returned last week from Bucovina, in the far north of Romania, where I spent Orthodox Easter with my family, my godson and his brother and parents, who were visiting from the UK. There can be few better places in the world to spend Easter than among the fabled painted monasteries of Bucovina. Here five centuries of Christian tradition are wonderfully preserved and celebrated among the hills that once formed … Read more »Easter with Stefan cel Mare
Business and Government: We need to talk
Mihai Razvan Ungureanu’s new Business Advisory Council looks very similar to the Business Advisory Group that meets every quarter with David Cameron in Downing Street – a small group of the country’s leading business men and women advising the Prime Minister on the big issues facing the country today. It’s the right format, because the big questions facing countries like Britain and Romania are ones where business can offer a … Read more »Business and Government: We need to talk
Linking London and Bucharest Stock Exchanges
This week the Bucharest Stock Exchange established a partnership with the largest financial market in the world – the London Stock Exchange. When the UK’s Trade and Investment Minister Lord Green met the Foreign Investors Council in Bucharest earlier this month, one of the participants, Adrian Rosca of Chemco, made the far-sighted proposal that Romania should establish a ‘City of London’ in Bucharest – a hub to draw on UK … Read more »Linking London and Bucharest Stock Exchanges
Doing business in emerging Europe
Britain is a trading nation. In most markets in the world – Asia, Africa, America, and the Middle East – the UK holds a disproportionately large share of inward investment and exports. But not, unfortunately, in central and eastern Europe. For whatever reason UK companies still lag behind their German, French and Austrian competitors in markets in this part of Europe, despite the fact that these markets have been developing … Read more »Doing business in emerging Europe
Romania, country of choice for British investors
Today I opened the new service centre of Stanleybet, one of the most established British investors in Romania and one that is now expanding its operations here. Stanleybet has chosen Romania from the eight countries in which it operates as the location for its service centre, dealing with customers in Italy, Germany and Cyprus. Why? The reason is human capital. Romania can offer excellent customer service personnel, fluent in languages … Read more »Romania, country of choice for British investors
Less Emergency, More Order
The media are reporting today that the new Prime Minister Mihai Razvan Ungureanu has said the Government should make less use of Emergency Ordinances. This would be welcomed by British investors in Romania. One of the most common concerns I hear from British companies is the need for more predictability in the legislative environment. The phrase ‘Emergency Ordinance’ is not a popular one with them. The problem with Emergency Ordinances … Read more »Less Emergency, More Order
Credit where credit is due
Romania gets a good report on the battle against corruption in the latest assessment by the Commission. Deservedly so. The last few months have seen important steps forward. Verdicts have been reached in high-level corruption cases. The Civil Code is in force and working. New rules have been put in place for appointing judges to the High Court. There is new legislation in parliament to allow for the extended confiscation … Read more »Credit where credit is due
Romania’s first Oxford Prime Minister
The Universities of Oxford and Cambridge have a long record in educating British Prime Ministers. William Gladstone, Margaret Thatcher, Tony Blair all studied at Oxford. In fact, from the first – Robert Walpole – to the last – David Cameron – 41 of Britain’s 55 Prime Ministers went to Oxford or Cambridge. In recent years these two world class universities have also been the alma mater of Prime Ministers and … Read more »Romania’s first Oxford Prime Minister