The leader of the Romanian Social Democrats (PSD), Marcel Ciolacu, stated that the new ruling strategy, to be enacted once he takes the prime minister position, will pursue "economic patriotism," explained as a state intervention aimed at addressing market failures.

"We have already identified two areas - the food industry and the building materials industry - two areas that are deficient in Romania. We must come up with support programmes, which are also categorically accepted by the European Commission, for the development of Romania's essential areas," Ciolacu explained, according to News.ro.

He also said that the two state-owned banks Eximbank and CEC must "create the instruments" to intervene on the insurance market. 

iulian@romania-insider.com

(Photo source: Inquam Photos/Sabin Cirstoveanu)