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Acting Prime Minister Ilie Bolojan stated on Friday that the ratings issued by rating agencies, which influence the cost of Romania’s borrowing, depend on budget execution, political stability, and the continuation of reforms.

The deputy general director of France’s Societe Generale, Jean-Pierre Mustier, stated that three breaches in the risk control system allowed a trader within the bank to perform a risky investment of EUR50 billion on European stock exchanges, triggering EUR4.9 billion worth of losses for the bank.