Article: Moldovan president vows support for local banking system

Moldovan president vows support for local banking system

BUCHAREST, July 24 (Xinhua) -- Moldova's central authorities will continue to take measures to support the development of the banking system and to take measures that protect the local banks against the foreign competition till a certain time, President Vladimir Voronin stressed on Friday.

Voronin made the statements at the inauguration of the Central Office of Banca de Economii (Savings Bank) after reconstruction.

The head of state said that the central authorities, taking advantage of the state's shares in Banca de Economii, in a few days, managed to settle a problem which threatened to provoke the so- called "domino effect" in ...

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