Expert economist: Sanctioning banks can trigger a recession that will affect pensioners

A well-known economist is warning that Romania is heading towards a difficult period from an economic standpoint, with direct implications for pensioners and elderly people who depend on fixed incomes.

The economics specialist believes that the penalties imposed on banking institutions following the inflated ROBOR practices will trigger a recession that will extend over the next two years. This situation could particularly affect the elderly segment of the population, who have limited financial resources and rely on pensions and savings.

Regarding the possibility of Romanians recovering the money they overpaid on loans, the expert is sceptical. This concerning outlook comes in the context of civil society representatives having called on the European Commission to establish clear compensation mechanisms for those affected by the inflated ROBOR practice.

For pensioners and seniors who took out loans during that period, the uncertainty surrounding the recovery of overpaid amounts represents an additional challenge. Many of them used those loans for essential needs or to support their families, and the lack of a clear prospect for recovering their losses could affect them significantly.

The anticipated difficult economic climate could have knock-on effects on services aimed at elderly people, from rising care service costs to reduced investment in social infrastructure for seniors. Pensioners, whose incomes do not adjust quickly to inflation, risk being among those hardest hit by a potential recession.