BNR Governor, Mugur Isărescu, warns that financial stability is essential, even if the public seems to have „grown tired” of this repeated message.
Isărescu emphasized, at the opening of the Financial Education Forum organized at the Academy of Economic Studies in Bucharest, that the importance of stability becomes evident only when it is lost.
Financial education, a "strategic priority" and a security issue
BNR Governor stressed that financial education must be treated as a strategic priority, including from the perspective of national security. He explained that financial systems are essential for the functioning of the state and cannot be reduced to mere informational tools.
However, Isărescu acknowledged that there is a major communication problem between specialists and the public, which reduces the effectiveness of messages about the economy and finances.
Bankers' "bird language"
The Governor criticized the technical language used by specialists, stating that it can even confuse those in the field.
"Communication is a profession in the banking field. Even I, if I talk to my main dealer, after five minutes, I get lost, even though I am a specialist. If they appear in public and try to explain things in their bird language, they confuse people even more," Isărescu said.
Messages get "lost along the way"
Another issue highlighted by the governor is the distortion of messages in the public space. He explained that there is a deficit of efficient "transmission channels," and statements are often simplified or reinterpreted.
"You say something on TV, and something else appears in the ticker. By the time you correct it, another piece of news has already come out," Isărescu stated, describing the difficulty of controlling how information reaches the public.
Isărescu's warning
In his speech, the BNR Governor reiterated the central idea of the intervention: financial stability is vital, even if it is not perceived as an emergency in calm periods.
"People have grown tired of us repeating financial stability. Financial stability is like health: you realize how important it is only when you lose it. Do we really want instability?" Isărescu said.