The ruling parties’ decision to nationalize Banca de Economii (BEM) is not correct as it will lead to the further worsening of the financial situation of the state. Such conclusions were formulated in the talk show “Politics” on TV 7 channel, IPN reports.
Economic expert Victor Ciobanu considers the nationalization of the BEM will endanger the signing of an agreement with the IMF. As a result, Moldova will be in a default. “There is a definitive decision by the Supreme Court of Justice to restore the state-owned shareholding in the BEM. Thus, the state has controlling interest with a shareholding of 56%. Why should the BEM be nationalized? The leaders of the PDM and PLDM, who agreed to nationalize the BEM, should explain why they changed their mind after in 2013 stated that this bank should be denationalized. I think the nationalization decision is not final. The IMF will not accept such a solution,” he stated.
Economic expert Vitalie Rapcea also said the nationalization of the BEM endangers the signing of a new financing agreement with the IMF. “The situation would be disastrous. We will be put in the situation to work after hours in order to repair the mistakes of the leaders of the ruling parties. The IMF will not accept the nationalization at a time when the Kroll investigation showed that the state cannot manage the BEM and the money is stolen,” he said.
Economic expert Viorel Garbu said he is for denationalizing the BEM. “Banca de Economii became a political stake for the leaders of the ruling parties. They want now to appear as saviors of the nation. The BEM cannot be nationalized. It would be a real catastrophe as the debts are enormous. The state should not manage the banks as it showed that it is a bad manager,” he stated.
Financial expert Sveatoslav Mihalache said the nationalization of the BEM would cause massive costs. “If the BEM is nationalized, the state will have to pay millions of lei to the bank’s shareholders. On the other hand, it’s clear that the negotiations with the IMF will be harsh and it’s not known if it accepts to negotiate in such conditions,” he said.
After the June 10 meeting of the alliance’s council, the leaders of the Liberal Democratic Party (PLDM) and the Democratic Party (PDM) announced that they are for keeping and nationalizing the BEM. Vlad Filat said measures will be taken to make sure that the banks works at full capacity, while Marian Lupu noted that if the banks work, there will be a motivation to continue the investigation into the stealing of the US$1 billion.
