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Romania's surprise bank tax, announced by the government in December 2018, makes investors and financiers feel "unwelcome," according to international lenders active in the country.
Finance Minister Eugen Teodorovici said Dec. 18 that the Romanian government intends to raise [euro]2.1 billion by taxing banks, energy firms and infrastructure companies operating in the country. The move is aimed at reducing the budget deficit, which is running close to the 3% upper limit set by the EU.
"This sends out a message to market participants that, as a bank, you are not welcome. It's not...