“We must find a better balance between rules and discretion and include it in the Constitution. The Constitution shouldn’t enclose the budget deficit level, but the debt ceiling,” said Lucian Croitoru, adviser to central bank’s governor Mugur Isarescu.
Speaking at the Romania Financial Forum, organized by MEDIAFAX and the central bank, Croitoru said the financial crisis has created the best window for the authorities to continue the reforms started back in the 70s, when the monetary policy was freed from political influence.