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	<title>FlorinCitu</title>
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	<description>A look at financial markets and government policies through the eye of a skeptic</description>
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		<title>FlorinCitu</title>
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		<item>
		<title>Why I am skeptical about Romania</title>
		<link>http://florincitu.wordpress.com/2012/02/22/why-i-am-skeptical-about-romania/</link>
		<comments>http://florincitu.wordpress.com/2012/02/22/why-i-am-skeptical-about-romania/#comments</comments>
		<pubDate>Wed, 22 Feb 2012 06:00:18 +0000</pubDate>
		<dc:creator>florincitu</dc:creator>
				<category><![CDATA[Financial Markets]]></category>
		<category><![CDATA[public debt]]></category>
		<category><![CDATA[Romanian Potnetial GDP]]></category>

		<guid isPermaLink="false">http://florincitu.wordpress.com/?p=1290</guid>
		<description><![CDATA[Often enough people mistake my skepticism for pessimism. Especially those that are activating in the political arena and with whom I happen to disagree. Most of the time my reply is that I try to be as realistic as possible and assess the situation based on their policies. Last time I was called a pessimist [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=florincitu.wordpress.com&amp;blog=25842807&amp;post=1290&amp;subd=florincitu&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://florincitu.wordpress.com/2012/02/22/why-i-am-skeptical-about-romania/feed/</wfw:commentRss>
		<slash:comments>8</slash:comments>
	
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			<media:title type="html">florincitu</media:title>
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		<item>
		<title>Deal for Greece still not sustainable</title>
		<link>http://florincitu.wordpress.com/2012/02/21/deal-for-greece-still-not-sustainable/</link>
		<comments>http://florincitu.wordpress.com/2012/02/21/deal-for-greece-still-not-sustainable/#comments</comments>
		<pubDate>Tue, 21 Feb 2012 06:33:38 +0000</pubDate>
		<dc:creator>florincitu</dc:creator>
				<category><![CDATA[Financial Markets]]></category>
		<category><![CDATA[Monetary Theory and Policy]]></category>

		<guid isPermaLink="false">http://florincitu.wordpress.com/?p=1287</guid>
		<description><![CDATA[The second Greek bailout does not bring the needed adjustments to ensure that we will not deal with this issue in the following months again. Here is the official communique from the Eurogroup. I find the new deal relative to the previous one very week and unchanged where it mattered. First of all the nominal [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=florincitu.wordpress.com&amp;blog=25842807&amp;post=1287&amp;subd=florincitu&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://florincitu.wordpress.com/2012/02/21/deal-for-greece-still-not-sustainable/feed/</wfw:commentRss>
		<slash:comments>15</slash:comments>
	
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			<media:title type="html">florincitu</media:title>
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		<item>
		<title>NBR could do with a bit more transparency</title>
		<link>http://florincitu.wordpress.com/2012/02/20/nbr-could-do-with-a-bit-more-transparency/</link>
		<comments>http://florincitu.wordpress.com/2012/02/20/nbr-could-do-with-a-bit-more-transparency/#comments</comments>
		<pubDate>Mon, 20 Feb 2012 19:40:16 +0000</pubDate>
		<dc:creator>florincitu</dc:creator>
				<category><![CDATA[Monetary Theory and Policy]]></category>
		<category><![CDATA[communication]]></category>
		<category><![CDATA[monetary policy]]></category>
		<category><![CDATA[NBR]]></category>
		<category><![CDATA[Romania]]></category>
		<category><![CDATA[transparency]]></category>

		<guid isPermaLink="false">http://florincitu.wordpress.com/?p=1285</guid>
		<description><![CDATA[No one questions today the role of central banks’ against independence political influence. Experience has shown that an independent central bank monetary policy is a more credible one and it has more success in implementing monetary policy. Central bank independence, de jure and de facto, is observed since the beginning of this institution. Versiunea in [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=florincitu.wordpress.com&amp;blog=25842807&amp;post=1285&amp;subd=florincitu&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://florincitu.wordpress.com/2012/02/20/nbr-could-do-with-a-bit-more-transparency/feed/</wfw:commentRss>
		<slash:comments>3</slash:comments>
	
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			<media:title type="html">florincitu</media:title>
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		<title>The output gap is the trojan horse of the fiscal compact</title>
		<link>http://florincitu.wordpress.com/2012/02/20/the-output-gap-is-the-trojan-horse-of-the-fiscal-compact/</link>
		<comments>http://florincitu.wordpress.com/2012/02/20/the-output-gap-is-the-trojan-horse-of-the-fiscal-compact/#comments</comments>
		<pubDate>Mon, 20 Feb 2012 16:51:55 +0000</pubDate>
		<dc:creator>florincitu</dc:creator>
				<category><![CDATA[Monetary Theory and Policy]]></category>
		<category><![CDATA[output]]></category>

		<guid isPermaLink="false">http://florincitu.wordpress.com/?p=1280</guid>
		<description><![CDATA[Romania, via its president, has adhered wholeheartedly to the euro area fiscal compact. To sell the story the Romanian officials are presenting this version of the rules based fiscal policy as a panacea to the chronic fiscal policy problems of this country. And to make the story stick “friendly” economists are presenting only the benefits [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=florincitu.wordpress.com&amp;blog=25842807&amp;post=1280&amp;subd=florincitu&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://florincitu.wordpress.com/2012/02/20/the-output-gap-is-the-trojan-horse-of-the-fiscal-compact/feed/</wfw:commentRss>
		<slash:comments>6</slash:comments>
	
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			<media:title type="html">florincitu</media:title>
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		<item>
		<title>End of EURO is not the end of the world</title>
		<link>http://florincitu.wordpress.com/2012/02/19/end-of-euro-is-not-the-end-of-the-world/</link>
		<comments>http://florincitu.wordpress.com/2012/02/19/end-of-euro-is-not-the-end-of-the-world/#comments</comments>
		<pubDate>Sun, 19 Feb 2012 10:25:03 +0000</pubDate>
		<dc:creator>florincitu</dc:creator>
				<category><![CDATA[Random posts]]></category>

		<guid isPermaLink="false">http://florincitu.wordpress.com/?p=1277</guid>
		<description><![CDATA[I have always said that either one or two countries leaving the euro or even the euro disappearance will not be the &#8220;end of the world&#8221;. It will be a negative shock to which economic polices will have to respond. In the same time I also said that by focusing on the negative effects of [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=florincitu.wordpress.com&amp;blog=25842807&amp;post=1277&amp;subd=florincitu&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://florincitu.wordpress.com/2012/02/19/end-of-euro-is-not-the-end-of-the-world/feed/</wfw:commentRss>
		<slash:comments>6</slash:comments>
	
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			<media:title type="html">florincitu</media:title>
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		<item>
		<title>Aici sunt de acord cu Guvernatorul BNR</title>
		<link>http://florincitu.wordpress.com/2012/02/16/aici-sunt-de-acord-cu-guvernatorul-bnr/</link>
		<comments>http://florincitu.wordpress.com/2012/02/16/aici-sunt-de-acord-cu-guvernatorul-bnr/#comments</comments>
		<pubDate>Thu, 16 Feb 2012 09:15:33 +0000</pubDate>
		<dc:creator>florincitu</dc:creator>
				<category><![CDATA[Random posts]]></category>
		<category><![CDATA[BNR]]></category>
		<category><![CDATA[politica monetara]]></category>
		<category><![CDATA[restructurare sistem bancar]]></category>

		<guid isPermaLink="false">http://florincitu.wordpress.com/?p=1274</guid>
		<description><![CDATA[Domnul Guvernator a avut cateva mesaje foarte intersante prezentate in cotidianul ZF.ro. Pe scurt: -nu va creste scadenta de 7 zile pentru operatiunile REPO prin care BNR injecteaza lichiditate in sistemul bancar. -nu va reduce rezervele minime obligatorii -nu va accepta colateral contracte cu ipoteca din partea bancilor pentru lichiditate. Mesajul principal este insa altul: [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=florincitu.wordpress.com&amp;blog=25842807&amp;post=1274&amp;subd=florincitu&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://florincitu.wordpress.com/2012/02/16/aici-sunt-de-acord-cu-guvernatorul-bnr/feed/</wfw:commentRss>
		<slash:comments>20</slash:comments>
	
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			<media:title type="html">florincitu</media:title>
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		<title>The surprise in the already well known 2011 GDP figure</title>
		<link>http://florincitu.wordpress.com/2012/02/15/the-surprise-in-the-already-well-known-2011-gdp-figure/</link>
		<comments>http://florincitu.wordpress.com/2012/02/15/the-surprise-in-the-already-well-known-2011-gdp-figure/#comments</comments>
		<pubDate>Wed, 15 Feb 2012 10:20:32 +0000</pubDate>
		<dc:creator>florincitu</dc:creator>
				<category><![CDATA[Random posts]]></category>
		<category><![CDATA[2011 GDP release]]></category>
		<category><![CDATA[Romanian GDP]]></category>

		<guid isPermaLink="false">http://florincitu.wordpress.com/?p=1271</guid>
		<description><![CDATA[Activity expanded by 2.5% in 2011, confirming what the Romanian president made public a month ago. I still wonder what is the point of Romanian Statistics Institute as Mr President has made it a habit of &#8220;front-running&#8221; it when it comes to positive news. This is also an important distinction as only the positive news [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=florincitu.wordpress.com&amp;blog=25842807&amp;post=1271&amp;subd=florincitu&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://florincitu.wordpress.com/2012/02/15/the-surprise-in-the-already-well-known-2011-gdp-figure/feed/</wfw:commentRss>
		<slash:comments>6</slash:comments>
	
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			<media:title type="html">florincitu</media:title>
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		<title>Politica monetara e deconectata de la economia reala</title>
		<link>http://florincitu.wordpress.com/2012/02/13/politica-monetara-e-deconectata-de-la-economia-reala/</link>
		<comments>http://florincitu.wordpress.com/2012/02/13/politica-monetara-e-deconectata-de-la-economia-reala/#comments</comments>
		<pubDate>Mon, 13 Feb 2012 21:55:52 +0000</pubDate>
		<dc:creator>florincitu</dc:creator>
				<category><![CDATA[Random posts]]></category>
		<category><![CDATA[BNR]]></category>
		<category><![CDATA[canalul de transmitere a politicii monetare]]></category>
		<category><![CDATA[politica monetara]]></category>

		<guid isPermaLink="false">http://florincitu.wordpress.com/?p=1269</guid>
		<description><![CDATA[Nu cred ca exista economist serios care sa nu accepte ca pe termen scurt banii conteaza. Altfel spus, fluctuatiile impuse de politica monetara in masa baneasca influenteaza pe termen scurt economia reala. O restrangere a masei monetare reprima cresterea economica si invers. Existenta unei astfel de relatii presupune un canal prin care economia reala este [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=florincitu.wordpress.com&amp;blog=25842807&amp;post=1269&amp;subd=florincitu&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://florincitu.wordpress.com/2012/02/13/politica-monetara-e-deconectata-de-la-economia-reala/feed/</wfw:commentRss>
		<slash:comments>15</slash:comments>
	
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			<media:title type="html">florincitu</media:title>
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		<title>EURRON to 4.2 by end of March?</title>
		<link>http://florincitu.wordpress.com/2012/02/13/eurron-to-4-2-by-end-of-march/</link>
		<comments>http://florincitu.wordpress.com/2012/02/13/eurron-to-4-2-by-end-of-march/#comments</comments>
		<pubDate>Mon, 13 Feb 2012 07:03:08 +0000</pubDate>
		<dc:creator>florincitu</dc:creator>
				<category><![CDATA[Random posts]]></category>
		<category><![CDATA[EURRON]]></category>
		<category><![CDATA[Ministry of Finance]]></category>
		<category><![CDATA[money market]]></category>
		<category><![CDATA[Real interest rate]]></category>

		<guid isPermaLink="false">http://florincitu.wordpress.com/?p=1265</guid>
		<description><![CDATA[In recent years the Ministry of Finance has used the first quarter to borrow most its funding needs for the year. The signal was given by very low rates in the money market at short maturities. With low funding costs and still high real interest rates the demand for Romanian debt at maturities up to [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=florincitu.wordpress.com&amp;blog=25842807&amp;post=1265&amp;subd=florincitu&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://florincitu.wordpress.com/2012/02/13/eurron-to-4-2-by-end-of-march/feed/</wfw:commentRss>
		<slash:comments>9</slash:comments>
	
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			<media:title type="html">florincitu</media:title>
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			<media:title type="html">EURRON2012</media:title>
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		<title>Romanian MoF should focus on lower expenditures&#8230;</title>
		<link>http://florincitu.wordpress.com/2012/02/11/romanian-mof-should-focus-on-lower-expenditures/</link>
		<comments>http://florincitu.wordpress.com/2012/02/11/romanian-mof-should-focus-on-lower-expenditures/#comments</comments>
		<pubDate>Sat, 11 Feb 2012 09:40:05 +0000</pubDate>
		<dc:creator>florincitu</dc:creator>
				<category><![CDATA[Random posts]]></category>
		<category><![CDATA[European Union]]></category>
		<category><![CDATA[Government]]></category>
		<category><![CDATA[Government of Romania]]></category>
		<category><![CDATA[government revenues]]></category>
		<category><![CDATA[Government spending]]></category>
		<category><![CDATA[Gross domestic product]]></category>
		<category><![CDATA[Ministry of Finance]]></category>
		<category><![CDATA[Romania]]></category>
		<category><![CDATA[Romanian government]]></category>

		<guid isPermaLink="false">http://florincitu.wordpress.com/?p=1261</guid>
		<description><![CDATA[..not on higher revenues The new Minister of Finance, Bogdan Dragoi, presented yesterday his priorities for the length of his mandate. Here are the first three: The number one priority is to ensure a sustainable economic growth. Another priority is structural funds accession.  Until now the Ministry of Finance has focused on bringing sustainability to [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=florincitu.wordpress.com&amp;blog=25842807&amp;post=1261&amp;subd=florincitu&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://florincitu.wordpress.com/2012/02/11/romanian-mof-should-focus-on-lower-expenditures/feed/</wfw:commentRss>
		<slash:comments>8</slash:comments>
	
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