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276 Vasile, E.; Carapancea, D.; Balan, M. as an important step towards improving quality and productivity. A good manager should, through a process of decision-making, succeed in driving people to do whatever is necessary to achieve the goals of the organization. REFERENCES: [1]. Crainer, S. (2002), 75 of the Best Decisions Ever and 21 of the Worst, Editura Teora [2]. Fundătură, D. (1992) Dicţionar de management, Editura Diacon Coressi, Bucureşti [3]. (2010) Romania's Reindustrialization: Policies and Strategies, conducted by the Group of Applied Economics – GEA –, www.gea.org.ro [4]. Manual Mine Closure and Mining Strategy for the Period 2008-2020, www.minind.ro [5]. Report on State of the Environment in Romania, www.anpm.ro [6]. Gas Law no.351/14.07.2004, www.minind.ro [7]. Mining Law no.5/18.03.2003, www.minind.ro
Annals of the University of Petroşani, Economics, 11(1), 2011, 277-288 277 A REVIEW OF FINANCIAL REGULATIONS TO AVOID THE NATIONALISATION OF LOSSES IN THE BANKING SYSTEM SORANA VĂTAVU, MARILEN PIRTEA, SORIN VĂTAVU * ABSTRACT: This article investigates the regulations which should be applied in the financial system in order to minimize the losses. The subject is based on the banking policy of “privatisation of profits and nationalisation of losses” and it is debated mainly from trade articles point of view. Even when taxpayers do not agree, governments choose either to bailout influential banks or to cover their losses with a deposit insurance. Banks would take advantage of any opportunity to increase earnings, even in the insolvency stage, and thus certain regulations and limitations must be provided to minimize the moral hazard occurred. The most important problem that deepens financial regressions relates to the losses spillover effect on the worldwide economy, and although a perfect global banking model cannot be implemented, the paper suggests regulations which improve the financial systems. KEY WORDS: profit privatization; losses nationalization; financial crisis; liberalization; recapitalization; financial regulations. JEL CLASIFICATION: G18. 1. INTRODUCTION The current banking crisis is very similar to past crises, as it started when the lending process was too superficial and did not provide any coverage. The significant difference is that the problem began in one of the most secure markets and it spread quickly all over the world. Nowadays, the worldwide question is whether the banks should be saved or not. The economic system stimulated banks through an unsuitable policy based on the privatisation of profits and nationalisation of losses. * Ec., Ph.D. Student, West University of Timişoara, Romania, sorana.vatavu@yahoo.com Prof., Ph.D., West University of Timişoara, Romania, marilen.pirtea@feaa.uvt.ro Assoc.Prof., PhD, University of Petroşani, Romania, sorinvatavu57@yahoo.com
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Integration process in management s
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Romanian Companies Dilemmas-Busines
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Promotion of Employment among Youth
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