Dan Voiculescu gives advice to Dacian Cioloș, after the Government announced that it extended the framework program with government securities for MTN.
'' In February 2011, the Boc Government launched the first issue of the loan program Medium Term Notes (MTN).
Since the beginning of the economic crisis (2009-2010), we have constantly warned on the harmful effect of state short-term loans. The quick rolling of debts entails the rising of interest rates, the inability to carry out structural projects and instability of the financial and banking policy.
In April 2016, the Government announced that it will extend the framework program of government securities 'Medium Term Notes' (MTN) from 18 billion to 20 billion euros to cover the gross need of financing by issuing bonds on the international markets capital for the period 2016-2017.
Today it is a certainty that the result of the measures taken in 2011 was a disaster.
I suggest the Government not repeat the mistakes of Boc and Ungureanu governments and to abandon the MTN in favor of a responsible program for long-term loans. Long-term loans are those that can relax the necessary deficit and contribute to maintaining it within sustainable limits and refinancing governmental public debt.
To avoid an economic and social disaster like the one we have experienced, I repeat what I have been saying for years: we urgently need a government policy aimed at reducing public debt, a National Investment Strategic Plan and concrete measures to support the middle class, "wrote Dan Voiculescu on his blog.