Even the National Bank of Romania doesn't have the huge resources needed to intervene in the market and keep the leu at an acceptable level, because they're drawing close to a floor below which the bank's reserves can't drop. The central bank has to wait for a moment of calm to efficiently conduct its interventions.
Traian BasescuRelated topics
bank calm central close conduct drop floor intervene market moment national wait reserves RomaniaRelated quotes
We are close to a consensus that the Kyoto Protocol does huge economic, political, social, and ecological damage to the Russian Federation. In addition, it certainly violates the rights and freedoms of Russian citizens, and well as the rights and freedoms of citizens in those countries which signed and ratified it.
Andrey Illarionov
It was Reagan who began the realignment of American politics, making the Republicans into internationalist Jeffersonians with his speech in London at the Palace of Westminster in 1982, which led to the creation of the National Endowment for Democracy and the emergence of democracy promotion as a central goal of United States foreign policy.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage-market financed withdrawals of home equity in recent years.
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At one point Trudeau mentioned to me that the National Gallery wanted to buy a masterpiece by the great Italian painter Lotto, and it needed a million dollars from the Treasury Board. "Is that Lotto-Quebec or Lotto-Canada?" I joked, but I got the message, and the National Gallery got the painting.
Jean Chrétien