Google Cloud Speech-to-Text API (Chirp) + Gemini 2.5 Flash Non-Thinking. Treat it as a searchable index of what was broadcast, not a quotation record.
00:00:00nor production and what to see, we can't even
00:00:04imagine how we could form a government, we don't even imagine it through
00:00:07early elections, and then the Leu loses ground.
00:00:11Given that the Leu remains the currency of a
00:00:15large economy outside the
00:00:17Eurozone, it will not benefit from
00:00:21the same support and aid that the economies
00:00:24that have the Euro will give
00:00:27to the currencies in a certain area so as not to depreciate. So from this
00:00:31point of view, reactions are difficult to anticipate regarding what
00:00:35is happening at the moment in
00:00:38Europe. We maintained a somewhat stable exchange rate,
00:00:41having a preference for the entry of
00:00:45external liquidity into the banking market. We had the largest inflows of
00:00:48speculative funds,
00:00:51being a happy policy at that time of the NBR. Why do I say at that
00:00:55time? Because in economy nothing goes
00:00:58permanently, you have to adapt at the moment. What will
00:01:02be the monetary policy response? Because it is clear that
00:01:05we are talking about a depletion of the National Bank's resources,
00:01:08the lack of how many efforts more can it make? To Mr. Peia,
00:01:12did you remember anything? I looked and smiled, thinking that it's among the few
00:01:16times when I hear that the ANAF official must be protected
00:01:20from possible actions to force
00:01:24the law. At the moment when a complaint is filed, the official is
00:01:27no longer an official. How does ANAF attract
00:01:30more money, the increase in collections? There are many questions
00:01:33for which we will find answers as
00:01:36politicians decide to show us something, because
00:01:39for now we remain on the fence and watch them argue
00:01:42from one fence to another. The leu will fall, which will moderate
00:01:46inflation. At the moment
00:01:48so the rains from Romania's economy does not consider international
00:01:51orientation, where things change a lot.
00:01:54You see, who would have thought when he went to bed, if I'm not
00:01:58mistaken, on Thursday evening. and we woke up in the morning to hear Donald Trump saying
00:02:02that he is opening diesel imports from Russia. Who
00:02:06could have thought of such a thing? Things are changing so
00:02:09rapidly at the moment that it is difficult
00:02:12to make another prediction related to the level and the timing.
00:02:16However, trends show both the increase in inflation and the depreciation of the exchange rate.
00:02:20Professor, I propose that we listen to what Luca
00:02:23Niculescu declared this morning on public radio. These are very interesting statements
00:02:27regarding the economic situation. Let's listen to the statement and comment.
00:02:32For example, we need a budget rectification, because without
00:02:35an urgent budget rectification, there are risks, risks
00:02:39of blockages, blockages in
00:02:42the functioning of hospitals, in the supply of medicines, in
00:02:46the activity of city halls, especially now that winter is approaching,
00:02:50there is a risk of delays in some payments. We
00:02:53money, but also contracts worth millions of also have an emergency, which is the budget for next year, meaning we need
00:02:57to have a budget that is. that is
00:03:00credible, that is realistic, that is
00:03:03adopted by the end of this year and that
00:03:07respects Romania's commitments.
00:03:10As you know, at the beginning of the year
00:03:13rating agencies will come again to Romania, they will analyze our
00:03:17situation again and there is a risk that we cannot afford to
00:03:21underestimate, namely a loss of the rating that
00:03:24recommends Romania for investments. This will obviously
00:03:28mean more expensive
00:03:31loans, more reluctant investors and
00:03:34additional pressures on the economy, so we already have
00:03:38worrying signals, as you know and as
00:03:40you also said, foreign investments have
00:03:44strongly decreased,
00:03:45Obviously, when we talk about strong instability, political instability, pardon,
00:03:49obviously only amplifies
00:03:52uncertainty. Winter is coming, we need measures
00:03:56to help Romanians cope with energy bills. We
00:04:00need to help businesses too, Romanian businesses, because the price of energy
00:04:04is not just a social problem, but also
00:04:08one of economic
00:04:09competitiveness. This is how things stand at this
00:04:13moment.
00:04:16shutdown of Budgetary, which was already projected from the beginning of the moment when the
00:04:19budget was made, because that's how we act,
00:04:22we solve and we'll see how we make it work at the rectification
00:04:26because the budget has to pass quickly.
00:04:30attention, everyone talks about investments, about
00:04:33attracting investments, about courses but
00:04:36as long as we don't realize that at the moment
00:04:40when it rains today, we no longer have money to pay our electricity bill, so
00:04:44we will not invest in energy, because any future
00:04:47investment will mean a much higher energy consumption. At the
00:04:51moment when we don't realize that
00:04:55that ultimately for investments we need qualified labor and
00:04:58to look carefully.
00:05:00and without getting annoyed at education to develop
00:05:04the qualification of the workforce, here being a longer term, in
00:05:07energy we probably manage to recover faster, but then
00:05:11what do we do? to attract investments that should actually be
00:05:14somewhere, remember in the 90s, we're not
00:05:17selling our country, well now what are we doing, we're making investments to sell what's left
00:05:21to sell, because you have nothing to exploit in Romania, if energy
00:05:25is at an uncompetitive price and the workforce
00:05:27is of an unsuitable quality from the point of
00:05:31view of the competition of some complex
00:05:34products, why would anyone else come to
00:05:37invest, okay, we still have some things to sell, but then,
00:05:41this is the circle. in which Africa functioned for
00:05:45long periods of time, I would not necessarily make a forced comparison with
00:05:48what Africa did about 200 years ago, but
00:05:52it never managed to become a
00:05:55developed continent, because they sold what they had to sell and probably
00:05:59considered them investments, but selling raw material
00:06:02is not an investment, we complain today that we have
00:06:05deficiencies in the port of Constanta and we cannot export wheat and
00:06:09this increases the price. Well yes, but what about our bread?
00:06:14a question, how serious does the situation become, Professor, if we will not
00:06:17have a fully empowered government at the end of the year? The level of
00:06:21uncertainty is quite high, I see that we don't even agree on
00:06:25the nature of the government at the moment, is it technocratic or political,
00:06:29we don't even know that, political, I want him, but I don't want him, tomorrow
00:06:33I want him, it's chaotic and I wonder, I wonder if any rectification that is needed would pass, the rectification
00:06:36means nothing else at
00:06:40the moment than an adjustment.
00:06:43of a delay from the moment the budget was conceived. I
00:06:46noted with you last time that we are not
00:06:50referring to shocks in the economy that
00:06:53would require a re-evaluation of how
00:06:56you allocate money, such as the unexpected increase in energy
00:07:00prices. We're talking about salaries, Mr. Deacu, we knew that 12 months
00:07:04of salaries were needed since the beginning of the year. We budgeted money
00:07:07for nine months in some places, meaning
00:07:11we know we need this. rectification, but at
00:07:14this effort of populism, because one of the
00:07:18politicians said he doesn't want a technocratic government, I wouldn't either, I would like
00:07:22it to be formed by politicians, but behind them should no longer be
00:07:25sinecures, but technocrats, even if
00:07:28they are called sinecurists, at least they should know what they are
00:07:32discussing, meaning why did you take him to be your advisor at that
00:07:36ministry, because if someone calls me now to
00:07:39be whatever I would be in I don't know what
00:07:42sports I wouldn't go
00:07:45or you understand the idea, it's terribly
00:07:49simple, until we think things like that, we can
00:07:52end up in a very serious crisis and because you mentioned energy,
00:07:56we will discuss this immediately, Professor, in the meantime, I suggest we find out what else is
00:08:00happening in the country, perfumes, clothes and cosmetics bought with the institution's
00:08:06lei awarded directly, these are the irregularities reported at the
00:08:09National Meteorological Administration following checks by the control body of
00:08:13the Minister of Environment. Minister Diana Buzoianu demands the resignation of the leadership and announces
00:08:17that the report will be sent to the General Prosecutor's Office and the Court of
00:08:20Accounts. The director of ANM claims, however, that she did not use the institutional
00:08:23card and did not approve illegal acquisitions. Elena Matescu states
00:08:27that she ordered an internal audit and notified the police as early as August after
00:08:30the discovery of some irregularities. Last night in
00:08:33the show "Culoarele Puterii" on TVR Info, the Minister of Environment spoke
00:08:37exclusively about the contracts that would have been awarded with dedication to
00:08:41two companies. Diana Buzoa claims that the acquisitions department is under the
00:08:45direct subordination of Elena Mateiescu and that she would have signed the contested
00:08:49acquisitions.
00:08:51The control body actually revealed many more
00:08:55problems than just this part of unjustified
00:08:58expenses from cards. Uh, one of
00:09:02the essential things that came to light was that in recent years
00:09:06contracts were awarded by dedication to two companies,
00:09:09practically affiliated with ANM. They
00:09:12awarded by dedication contracts through
00:09:16direct acquisition worth millions,
00:09:20even though there are very clear limits for what you can
00:09:23do by direct acquisition, an amount of 270,000 RON. So
00:09:27practically we see how the system was used, how the money was used,
00:09:31including to favor, let's say, some in-house companies
00:09:35close to this institution. And I just want to mention, Ms.
00:09:38Director Mateescu is under her direct subordination.
00:09:42exactly the acquisitions department, so all these acquisitions
00:09:45were signed at some point by
00:09:49her as well, no matter how much she wants to exclude herself from this
00:09:52process. And this is not all, approximately 300 employees of
00:09:56Iarea Ghimbav participated today in a protest organized within the
00:09:59company, dissatisfied with the low level of activity and the
00:10:02blocking of salary indexation with inflation. Employees demand
00:10:06that the authorities bring new contracts to the Romanian defense industry and
00:10:09warn that they will resort to new actions if their demands are not
00:10:12resolved by mid-December. Unionists complain about
00:10:16the lack of firm contracts for the production of military helicopters in Romania.
00:10:20Although in the last year there have been discussions regarding the manufacturing of Airbus
00:10:23helicopters at Ghimbav. H215M and
00:10:27H225M, employees say they are waiting for concrete
00:10:30documents to guarantee the factory's
00:10:32activity.
00:10:34And since the professor mentioned what is happening in energy, let's talk about this sector at the end of
00:10:38the show. Nuclear electric representatives announced that
00:10:41units 1 and 2 of the Cernavodă plant remain safely
00:10:44shut down. Authorities emphasize that the population and the
00:10:48environment are not exposed to any danger. The technical maneuver was
00:10:51automatically or programmedly triggered in accordance with the strict procedures for
00:10:55nuclear safety of the plant to perform routine checks and
00:10:58preventive works on electrical systems. Company
00:11:02experts explained that the temporary shutdown does not affect national security and that
00:11:06all installations operate at designed safety parameters. Until
00:11:10reconnection to the national energy grid, electricity
00:11:13production is supplemented by the country's other resources, and engineering
00:11:16teams are working to resume deliveries as soon as
00:11:20possible. The problem, you know, is that in the meantime Romania has started
00:11:24to import electricity even during the day, which didn't happen in the summer
00:11:27except in the evening at peak hours, because otherwise we relied mostly on solar
00:11:31panels and if we look at the data from Transelectrica we will see
00:11:34at least a little earlier what the
00:11:37situation was, we were talking about quite large imports that reached
00:11:411700 MW, compared to a consumption of 6600
00:11:44approximately a quarter and all these things will ultimately lead to
00:11:48higher tariffs for consumers, we have the figures on
00:11:51the screen, look at them and you too, in some places in some cities it has come
00:11:55to suppliers having offers of over 2 RON per
00:11:57kWh. Mr. Ionuț Purica,
00:12:00energy expert at the Romanian
00:12:10you to explain how serious the situation at the Cernavodă plant really is.
00:12:14Here, they are discussing safe shutdown and cooling
00:12:17systems that can act at different levels. What is actually
00:12:21happening there and why have the authorities come to discuss this issue,
00:12:25including nuclear safety, nuclear security.
00:12:29Uh, first of all, a nuclear power plant
00:12:32has a number of security
00:12:35systems that, even in the event of a
00:12:38serious accident, especially the Candu type,
00:12:40I mean, are
00:12:44designed to contain, to
00:12:48maintain any
00:12:50radioactive leaks inside.
00:12:55uh the plant
00:12:57envelope. The envelope means
00:13:00the cylindrical building that we see when we go to
00:13:04the sea or come along
00:13:07Cernavodă. Uh, well,
00:13:11the shutdown of a nuclear reactor
00:13:14involves a series of cooling
00:13:17elements, because even if the fission
00:13:20reaction that releases
00:13:24very powerful heat, by the way, on the basis of which
00:13:27electricity
00:13:31is produced, there
00:13:34are in that fuel a series of
00:13:38isotopes, which
00:13:41still have
00:13:44radioactive disintegration, so they produce heat, but
00:13:48at a completely different level than
00:13:51that of fission,
00:13:56this heat must be
00:13:59eliminated, it must be cooled, so to speak,
00:14:02and there are systems provided
00:14:05to do this.
00:14:10the safe shutdown of the plant,
00:14:13we are talking about the activation of these
00:14:16systems, some of them at the
00:14:20spent fuel storage, which sits
00:14:23in some cooling
00:14:26pools, anyway, I won't go into technical
00:14:28details, they function all
00:14:32the time, others are
00:14:35intended for cooling the reactor during
00:14:39the period of effective the fission
00:14:43reaction, I understand under these
00:14:45conditions,
00:14:47it is normal that we are talking about nuclear and
00:14:50nuclear has a psychological
00:14:54component, if you will, of
00:14:56security and everyone
00:14:59says it is a safe
00:15:01shutdown, nothing happens, no
00:15:05dangers appear for the environment
00:15:08or for the population, especially and so on,
00:15:11I understand, Mr. Purica, Mr. Huru,
00:15:15since you mentioned what is happening in energy, we were looking at the tariffs
00:15:20suppliers offer, they even jumped over 2 RON per kilowatt
00:15:23hour, these are higher tariffs for companies too, what consequences can arise from
00:15:27this? First of all,
00:15:31we are already paying more, given
00:15:33that the authorities responsible in the field, should
00:15:38somewhere intervene as a counterpoint in
00:15:42this price negotiation, they say that a
00:15:4410% increase would be a moderate
00:15:48price increase, it is enormous, so I believe
00:15:52that and I will take a risk, because I will
00:15:55bother some politicians, even though it is a technical observation, I believe that
00:15:58we should return to the idea that
00:16:02we shouted loudly that we are liberalizing the energy
00:16:05markets, the energy markets cannot be liberalized, because production
00:16:09is identical in one, two, three places and consumption
00:16:13is clearly inelastic and I believe
00:16:16that ultimately at the moment, besides the fact that we will pay
00:16:20more, we lose our attractiveness for
00:16:23investments, energy today
00:16:26in many fields has a very,
00:16:30very high
00:16:33share in production processes, even in
00:16:37agriculture, that's the subject at the beginning, yes
00:16:40drought, drought means energy consumption to bring water to
00:16:44the field, because we, or to extract it from the ground,
00:16:48everything, everything becomes energy, humanity in general throughout
00:16:51its historical development has learned to
00:16:55produce more energy in a more efficient, more
00:16:58environmentally friendly way, even if the impact was greater, because we had a
00:17:02greater production, and we have regressed enormously from this point of view,
00:17:05Mr. Purica, we have two minutes left from this. this show, the conclusion will belong to
00:17:09you, what should we expect in the coming period given the situation in the energy
00:17:13sector.
00:17:15The idea is the following, as you can see, the
00:17:18rains have started and it is
00:17:21expected that the Danube's flow will increase,
00:17:26the mountains, the rains from downstream
00:17:29from in fact from upstream
00:17:32from the Cernavodă
00:17:35point should lead to the return of the Danube's
00:17:39flow, what is happening however
00:17:42is that at the moment
00:17:45we no longer have the available
00:17:49photovoltaic and wind energy that
00:17:52maybe wind energy because the wind starts to blow, but
00:17:56not photovoltaic because the sky is
00:17:58cloudy, obviously in these
00:18:01conditions, short-term measures
00:18:05are those related to starting
00:18:09coal-fired units, which has already happened,
00:18:12a series of things related to increasing,
00:18:16or finally, emptying the accumulation
00:18:19lakes
00:18:20in winter,
00:18:23obviously, under conditions to produce
00:18:27heat, under the
00:18:30given conditions, it is clear that in the medium and
00:18:34long term we will have to start building some
00:18:37cooling towers at Cernavodă to
00:18:40avoid situations like the one that happened or the one
00:18:44now, cooling towers that also cover
00:18:48units three and four. Secondly,
00:18:52Tarnița Lăpușelul, which is 1000 MW, must be finished.
00:18:56of
00:19:07Unfortunately, our show's time is drawing to a close.
00:19:10We only have time for one more piece of information. Today, the
00:19:13annual meeting of the IMF and the World Bank begins in Bangkok, an event that will last
00:19:17until October 18. Over 15,000 participants from
00:19:21all over the world are expected. The Managing Director of the IMF,
00:19:23Kristalina Georgieva, stated that massive investments in
00:19:27AI infrastructure contribute to maintaining global economic growth
00:19:30around the 3% level. According to the IMF, AI investments can
00:19:34add between 0.5 and one percentage point to the growth of some
00:19:38advanced Asian economies, and countries that produce semiconductors, equipment and
00:19:41components for data centers are the main
00:19:44beneficiaries. Professor, thank you for your presence at
00:19:47the show "Bani Azi". Unfortunately, we no longer have time to comment on this topic, we will
00:20:06for those who make investments on the stock exchange. Today, the
00:20:09ETF, which is the investment fund that tracks the main
00:20:13expanded index of the Polish capital market, began trading on the BVB.
00:20:16Don't forget, tomorrow the International Monetary Fund will publish a detailed
00:20:20report on the state of the global economy, and the National Institute of
00:20:23Statistics will come with new data on inflation and wage
00:20:26gains. We'll see you tomorrow at 4 PM. Until then, stay with us
00:20:29on TVR Info.