Iliescu and the properties of Romanians: the apartments that cost over 60,000 euros today were given almost for free after the Revolution
Ion Iliescu, a former communist leader with the Moscow School, was, paradoxically, the most important architect of capitalism in post -December Romania. Under his signature were born the largest processes of ownership of Romanians, from apartments sold symbolically to state companies transformed into shares for hundreds of thousands of citizens.
If today many Romanians have apartments, shares and private capital, the merit is largely up to Iliescu, the man who laid the foundations of a market economy in Romania, although he remained faithful to socialist ideals. History must admit that the former president was the biggest “capitalist” that Romania had.
Ion Iliescu made possible the ownership of Romanians / Photo source: Wikipedia / Inquam Photos
If a grandfather or parent will leave an apartment, a hotel or an account with millions, you know that this is due to Iliescu, according to zf.ro.
There are a lot of these days about Ion Iliescu. From a communist with school in Moscow, a socialist, a follower of Perestroiki or a “communist with a human face”. However, paradoxically, he was the largest capitalist president of Romania after 1990.
Apartments at symbolic prices
The Romanians could buy the homes in which they lived, most received during communism, at very low prices, which was a free appropriation.
Although in the collective mind Iliescu is seen as a pure-blood communist, his contribution to the formation of Romanian private capital is overwhelming. He was the president who put Romania on the path of capitalism, allowing simple Romanians to become owners and capitalists, giving them the opportunity of an economic transition that created a new class of owners.
He himself said ironically: “Private capital is a moft”, But he was precisely the main architect of modern Romanian capitalism, from the apartments bought at symbolic prices and the state actions received, to today's capitalists who built important assets.
What Iliescu has done for Romanian capitalism
Some key moments in the economic history of post-communist Romania bearing Iliescu's signature:
Setting up companies.
By Decree 90 and Law 31/1991, the conditions for the emergence of private companies and for the transformation of state companies were created.
Mass privatization.
Iliescu initiated the process by which 30% of the state companies were given to the Romanians, practically free, making the private property possible.
Reopening the Bucharest Stock Exchange in 1995 and the creation of Rasdaq market
It was the largest listing of state-owned companies in a post-communist country, offering Romanians the opportunity to become shareholders and to capitalize on the actions received in the privatization process.
Supporting the privatization of strategic assets
Petrom, BCR and other key companies have been privatized in the context of Romania's integration into the EU and NATO.
Prevention of prey
Supported the privatization of companies to prevent their total capture by corrupt political groups. Establishing the second pillar of private pensions, a system that we benefit today.
Supporting the IT sector through tax facilities, since the early 2000s.
The approval of the entry of important private banks to Romania, as an alternative to bankrupt state banks.
Supporting the independence of the National Bank of Romania
The power and stability of the NBR and governor Mugur Isarescu were and are possible because of him.
The transformation of nomenclatures into capitalists
People who started in the old communist elite have become true capitalists.
The legacy we receive from parents and grandparents, be it a real estate or financial, is largely the fruit of Ion Iliescu's reforms and decisions. The former head of state was, in essence, the most important capitalist president of Romania, laying the foundations of the private economy and transforming the Romanian society after decades of communism.
