Please note:
You are in the euro|topics archive. For current articles from the European press review, please go to

Home / Index of Authors

Anton, Ovidiu

RSS Subscribe to receive the texts of "Anton, Ovidiu" as RSS feeds

3 articles of this author have been cited in the European Press Review so far.

Capital - Romania | 10/11/2011

Romanians cause real estate collapse

Romanian real estate prices have sunk by more than 50 percent in the past three and a half years, real estate agents say. At the start of 2008 prices were at a record high. The business paper Capital sees the reasons for the price drop in a typically Romanian foible: "The very high demand was fuelled by a naive optimism - in some cases even frivolousness - and drove prices up so high that an apartment in Bucharest's old city centre cost as much as in Paris. ... Now there's no longer any money in circulation. People can't invest because of the crisis and the banks have stopped granting loans. In addition the entire population is afflicted with an exaggerated mood of pessimism. It's a typically Romanian phenomenon - no sense of proportion. First we're too optimistic and then we're so pessimistic that we make things even worse."

Capital - Romania | 24/10/2011

Romania's questionable number of millionaires

Romania is one of the poorest countries in the EU yet according to the Global Wealth Report by the Credit Suisse Research Institute a disproportionately high number of its citizens are millionaires: the report claims that 16,528 of the country's inhabitants own more than a million US dollars in assets. Ovidiu Anton of the business newspaper Capital, which publishes a list of the top 300 millionaires in Romania each year, doubts the accuracy of the Swiss statistics: "Whenever I question one of the top 300 millionaires about their income they always get aggressive! He will say that he shouldn't be in the ranking list because there are a thousand other people in Romania who are richer than he. And there's a certain amount of truth in this! But when I ask for concrete examples he naturally can't give any. It's true that each year the list includes new millionaires. But locating them and proving their assets is [owing to the intertwined structures] a real challenge. ... This is why I have my doubts about the figure of 16,528 Romanian millionaires. The Credit Suisse Research Institute purports to have used diverse statistics, questionnaires and specialist literature as a source of information. Not all the figures seem plausible to us. The correct conclusion here would be that there is indeed a growing number of Romanian millionaires!"

Capital - Romania | 17/10/2011

Russian ruble good for Romania

The Russian oil company Gazprom Neft wants to construct up to 80 new petrol stations in Romania by 2015, creating around 500 new jobs, the company and the Romanian government announced on Thursday. The business paper Capital is delighted and writes that Romania was wrong to shun Russian investors until now: "If even Germany accepts the ruble, why shouldn't it be good enough for us, too? ... Putting relations with Russia and China on ice was the biggest mistake that Romania committed after the political transition. Our fear of communism caused us to act irrationally. Our leaders lacked both courage and vision. Since then 22 years have gone by and it is not too late to revive relations. Major companies from France and Austria control a large part of the Romanian economy. What harm can it do to roll out the red carpet for the Russians and the Chinese in these times of crisis? The Chinese have the money, the Russians the resources."

» Index of Authors

Other content