´The importance of a good Financial Director in a company is capital, without him the company can not exist and most of the companies understood this as the financial and accounting departments were the least affected by the mass lay-offs many of the companies had to make.´

´The financing volumes will increse in 2010, compared with the previous year as banks have regained their apetite for financing due to an increased access to liquidity at a lower price. In this period, when the economy is still frail, the ionvestors have moved their attention from the real estate sector towards infrastructure, energy and any other projects that benefits of the support of the state or of the EU.´

´In 2010 we will see a recovery of the corporate credits as banks will focus mostly of financing lines for investments and on sustain their already existing clinets. Even the foreign investors are perceiving Romania with more optimism as both Romania and the Euro zone is slowly getting out of recession.´

´In order to reach the budgetary deficit agreed with  the IMF the Romanian goverbnement  must reorganize and increase the efficiency of the administrative system. This means to lay some people off and even if such a measure will have a negative social impact, increasing the unemployment rate and decresing the net revenues of individuals, on the long term this will contribute to a healthy economic growth. The governments expenses with the administrative system are not sustainable on the long run and as Romania will not always benefit from financing lines from the IMF and EU we have to learn to carry it off on our own strength. ´

´Everyone is passionately talking about re-launching the crediting activity and the political class even accused banks that they keep the interest rates too high and do not want to give loans.

But it must be understood that when it comes to granting loans it’s not everything about costs but about solvable demand.´

´Those who have benefited from various facilities from the banks in 2009 should not expect the same thing to happen this year.

The moment of truth is near and I expect to see the banks executing some of their clients or to be much more reticent in granting the same facilities as they did last year for those who did not know to take advantage it from various reasons.´

´We will never see a growth rate of credit as the one before 2009 in Romania because banks have become more prudent.

The economic climate is dominated now by a lot of uncertainty and I do not see a sustainable growth for credits any time sooner than 2011 or 2012 and even then the crediting activity will never be as explosive as it was before the economic crisis.´

´One of the most important subjects to approach during the CFOs International Conference organized by Forum Invest is how can we  better train our managers and I am not talking only about CEOs but also about CFOs, the people that control the figures and make the reports which draw the strategy of a company for the future.

The directors of financial and accountancy departments are the heart of a company, they are the ones that map out the coordinates for a company’s future.´

"We need to enforce an Insolvency code to ensure a regulated legal framework in the insolvency field.  Of great importance are also some legislative modifications which would bring stricter clauses for the opening of the insolvency procedure by both the debtor and the lender. We also need more flexible conditions for the judicial reorganization like the term for proposing a reorganization plan, the minimum quantum of claims, continuous financing during the reorganization period or the simplification of the formalities necessary for the validation of a reorganization plan by a syndic judge."

´Last year we didn`t see any spectacular measures to oversee the effects of the recession.

In 2010 the Government should at least not adopt any measure meant to hit in the local companies` liquidities. If we look at what happened recently, we will see that mainly the Romanian capital enterprises have been hit. Basically now the multinationals have less local competitors than before.´