Lawyer Daniel Badea, the managing partner of the Bucharestoffice of the world's biggest law firm, Clifford Chance, considersRomania needs a successful floatation of Fondul Proprietatea, thesale for a good price of the state's stakes in major companies, aswell as the launch of some mega infrastructure projects to be ableto regain its appeal in foreign investors' eyes.
He speaks of "balanced optimism", considering Romania is now unableto break itself free from the international economic context.
"Romania cannot isolate itself from the various externalinfluences, such as the euro crisis, the significant financialmarkets changes or the fallout of imbalances between emerging anddeveloped markets. There won't be years of peace. Romania needs tobe visible again on international markets and it can achieve thisby listing Fondul Proprietatea, by selling stakes in Romtelecom,Petrom or Romgaz, the eurobonds programme or two-threeinfrastructure projects. It takes three-four pieces of good news tochange perception about Romania", stated Badea in aninterview.
The firm he runs fared well in the second year of crisis, postingdouble-digit turnover growth in 2010, so that Clifford Chance'srevenues in Romania revolve around 8m euros, according to ZFestimates.
"The crisis is not over, but I find it hard to believe that it willas hard for us as in the previous years - on the one hand we havealready experienced the crisis and on the other we will see thepositive effects of the quite painful reforms," Badea added.
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