Under the auspices of the UN, the World Anti-crisis Conference (WAC) will take place in Astana on 23-24 May 2013. The idea of the World Anti-Crisis conference was introduced by the President of the Republic of Kazakhstan, Nursultan Nazarbayev, and was supported by members of the “Dialogue of leaders” at the Vth Astana Economic Forum. Political leaders, ministers of finance and economy, heads of central banks of the UN member countries, as well as business representatives and heads of international and financial organizations will discuss possible ways out of the global economic crisis and work on a draft of the UN World Anti-Crisis plan.
WAC events, 23rd May 2013
Panel session 1 – A DECADE OF REGULATION AND UNEMPLOYMENT IN THE EUROZONE: POLITICAL AND ECONOMIC DIMENSION
Questions for discussion: Should countries of Europe pursue the policy of austerity? What is the right balance between fiscal consolidation and growth? What are the political consequences? How faster economic growth may be achieved? Before the crisis of the Eurozone, besides single currency and fiscal constraints, institutional architecture of the European Monetary Union was minimalist: the management of economic and financial policy was firmly based on national competence. At the moment, the question is how to strengthen the architecture of the European Monetary Union? How can the transition to an effective and sustainable monetary union be achieved?
Panel session 2 – ASSESSMENT OF MONETARY POLICY AND IMPLICATIONS FOR THE GLOBAL FINANCIAL STABILITY
Questions for discussion: What is the effectiveness and possible risks of ‘non-standard’ monetary policy measures? Is the world in a state of severe “currency wars”? Is currency depreciation a current trend? Is there a reconfiguration of the role of monetary policy in the Western world? How significant is the concept of independence of Central Banks today? What will be the best exit from unconventional monetary measures for the US, UK and Japan? How will the rest of the world cope with external effects? How should central banks of developing countries respond to the developed countries’ strategy? Does the current drop in gold price impact upon the aggregate balance of the central banks of developed countries?
Panel session 3 – GLOBAL CAPITAL MARKETS IN TRANSITION: CHANGES OF THE FINANCIAL LANDSCAPE
Questions for discussion: How will the global economic and financial landscape develop? Is there a trend of increasing disintermediation and an important role of capital markets in the global financial system? Will the global financial system ultimately become more important in the global economy? How to counter the risks of fragmentation and secondary re-nationalization of financial systems? There is a growth in emerging markets and the growing importance of capital markets with the development of local bond markets in local currency and the deepening of the financial sector. Will this trend continue?
WAC events, 24th May 2013
Round table 1– NEW WORLD FINANCIAL ARCHITECTURE
Problems caused by the crisis raised questions about the traditional foundations of global economic governance. How could the global economic governance be strengthened in the future?
Round table 2 – G20: ADAPTING TO NEW REALITIES OF THE WORLD ECONOMY (outreach event of the Russian Presidency of G20).
Under the presidency of Russia in the G20, a critical challenge is what the G20 could offer to help the global economic recovery. In this context, how could the G20 find solutions to change traditional views on investment flows and their impact on the growth of various economic centers of the world?
Round table 3 – RECOVERY OF GROWTH IN A MORE FRAGMENTED WORLD ECONOMY.
The crisis caused the process of the ‘great balance change in the global economy’. Is there progress in the balance change of the key world economies: China, the U.S. and the Eurozone? Is this a cyclical or a structural process? Is the world economy deviating? What will be the end of this process?
Round table 4: ADOPTING RESOLUTIONS OF THE WORLD ANTI-CRISIS CONFERENCE
WAC speakers and participants: Nursultan Nazarbayev, President of Kazakhstan; Vuk Jeremic, President of the UN General Assembly; Wu Hongbo, Deputy Secretary General of the UN and the Head of the Department of Economic and Social Affairs; Supachai Panitchpakdi, Secretary-General of the UN Conference on Trade and Development (UNCTAD); political leaders (presidents, prime ministers), business representatives, heads of international organizations (World Bank, IMF).
MEP Vasile Blaga welcomes the European Commission’s plan for post-pandemic economic recovery: Romania on the 6th place in Union in budget size
MEP Vasile Blaga (PNL, EPP) welcomes the European Commission’s 750 billion euro plan for post-pandemic economic recovery: “The level of sums allocated to Romania for economic recovery shows that our place in the EU has strengthened. We are on the 6th place in the union in the size of the recovery budget after the COVID-19 crisis ”.
According to the MEP, this amount of 740 billion euros is “welcome for the recovery of the economies affected by the pandemic crisis.”
“The allocation of 750 billion EUR is a good signal that proves that European solidarity is not just a word in the wind that feeds the chorus of Eurosceptics. We also welcome the allocation to Romania of over 30 billion euros for economic recovery, an amount that puts us in sixth place in the top of budgets allocated post-pandemic “, he added.
Vasile Blaga emphasizes that out of the total of 750 billion EUR, 33 billion euros are allocated to Romania, approximately 19 billion EUR represent non-reimbursable grants: “In the next stage it is extremely important to develop the programs that make this budget an engine of the relaunch of the Romanian economy. There are major problems in the sectors that were automatically closed during the emergency and alert period – here we must work with priority “, the MEP noted.
For Romania to have a balanced reconstruction of the economy, Vasile Blaga claims that “the money must be spent in full.”
“Romania has the chance to restart large sectors – such as infrastructure – which may themselves be the spearheads to pull the economy in the coming years,” he said.
At the same time, Vasile Blaga hopes that the plan proposed by the European Commission will be accepted, even if there are different opinions among the 27 states of the Union regarding this ambitious economic recovery plan: “I bet, however, on a unanimous political agreement, which follows to be initialed at the next European summit, which will most likely t
Green Village Resort, the Danube Delta impressive location, opened for tourists under maximum safety measures
Green Village is naturally isolated with access to immense beaches stretched for kilometres, canals where tourists can make a different trip every day, they can fish, walk in nature, watch birds, without meeting any crowds.
„Even in a normal period, tourists felt safe and enjoyed a quiet vacation. Romania is a growing destination for foreign tourists. Although slower than we want, Romania attracts foreigners, who come here with moderate expectations, but return home beyond enchanted by the landscapes, people, and security that our country offers”, said Dragoș Anastasiu, owner of Green Village Resort.
Last year, more than 40% of our tourists were foreigners. They enjoyed mostly excursions on the canals, fishing, birdwatching, going to the beach and short trips to nearby cities such as Sulina and Tulcea.
Romania Remains Attractive As Software Outsourcing Destination in COVID-19 times
Romania is 1ST IN EUROPE and 6TH IN THE WORLD, in terms of number of certified IT specialists. With an estimated 150,000 in 2020, Romania is moving up the diversity spectrum in terms of outsourcing capabilities. The local talent pool has been a main decision factor for evolving from a cost driven approach to a value driven one, Romanian specialists proving to be very resourceful in operating many complex project assignments.
Romania doesn’t offer lowest prices in the outsourcing business, but it is highly competitive when you take into account the level of technical proficiency and soft skills in the country, “superior to what is typically found in other outsourcing locations,” according to IDC.
Romania also benefits from two political factors—its membership in the European Union, and strong institutional support from the government. This includes several tax incentives and breaks, alongside wages that remain highly competitive within the EU (the average minimum wage is the second lowest in the political union). More importantly, membership in the EU comes with more than just financial and security advantages, one example is access to the Horizon 2020 program for Research and Innovation.
As a member state, Romania’s regulations and compliance laws must fall in line with the broader union, meaning that companies have significantly less startup barriers when setting up BPO or ITO offices. Apart from easier setup, this gives companies a much safer framework and infrastructure for financial transactions, as well as access to many of the same financial services and banks available across the West.
We asked one of the local companies what are their thoughts on the Romanian IT sector future and how is the COVID-19 disrupting their business model:
“This highly competitive industry sometimes forces us to ignore the long-term strategy and focus on the quick opportunities. The biggest risk is that we won’t see a lot of Romanian products competitive at global scale any time soon, but definitely in almost every successful project launched today around the World there is at least one Romanian engineer in the team. We give a lot of attention to our Research and Innovation department and we try to keep the right balance between outsourcing and internal products development (chasing our dreams). Regarding the COVID-19 disrupting our business, we just practiced what we preach, we used our entire digital offering on ourselves and we were able to completely switch into remote work during lunch break” says Anamaria POPA, General Manager of Soft Galaxy.
It is not enough for the professionals out there (in institutes, universities, private companies, innovators and entrepreneurs) to press ahead with their work, they need to stand together and promote the Romanian excellence in research and education.
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