treasurer of the united states between january 1953 and january 1961. " the world is round and the place which may seem like the end may also be only the beginning ", ms. priest said. the idea of this quotation may appear as a truism but it is relevant for today's state of the financial system. it may prove to be the key lesson to learn from " today's " crisis unless it may have been the lesson that mankind thought it had already learned every time a crisis occurred. references : 1. the high - level group on financial supervision in the eu report, chaired by jacques de larosiere, brussels, 25 february 2009. 2. london summit – leaders'statement, 2 april 2009. 3. jean - claude trichet, president of the ecb, introductory remarks, brussels, 30 march 2009 ( hearing before the economic and monetary affairs committee of the european parliament ). 4. mugur isarescu, criza financiara internationala si provocari pentru politica monetara din romania, cluj - napoca, 26 february 2009. 5. mugur isarescu, criza financiar - bancara si economica : strategii, programe si masuri anticriza. implicatiile si perspectivele unei agende nationale, brasov, 6 march 2009.

mugur isrescu : 50th anniversary of romania's entry to the circuit of international financial institutions speech by mr mugur isrescu, governor of the national bank of romania, on the occasion of 50 years since romania joined the international monetary fund and the world bank, bucharest, 31 january 2023. * * * distinguished audience, in december 1972, romania joined the international bank for reconstruction and development ( world bank ) and the international monetary fund ( imf ). at that time, romania was the first – and remained until 1989 - the only country from the treaty of warsaw and comecon ( council for mutual economic assistance ) that had entered the circuit of international financial institutions. to mark this anniversary, the national bank of romania has launched into circulation, for numismatic purposes, a silver coin. the obverse of the coin depicts the old palace of the national bank of romania, the inscription " romania " in a circular arc, the coat of arms of romania, the face value " 10 lei " and the year of issue " 2022 ". the reverse of the silver coin has the logos of the international monetary fund and the world bank and the inscriptions in romanian " romania's accession to the international monetary fund and the world bank " and " 50 years ". that moment in 1972 became part of a number of further positive decisions that put romania in the global economic family : joining the general agreement on tariffs and trade ( gatt ) in 1971 ; acquiring preferential trading status with the european common market in 1973 ; being granted the most - favored - nation status by the united states congress in 1975 ; obtaining facilitated access to credits from the export - import bank and the commodity credit corporation ( ccc ). over the same period of time, mixed capital companies were established in romania as well as abroad, including, within the banking sector : banque franco - roumaine, anglo - romanian bank, banca italoromena, frankfurt bukarest bank ag, misr romanian bank. the brand of the american bank - manufacturers hanover trust - was visible in university square, right in the heart of bucharest, and in premium data technology romcontroldata was operating in the country. unfortunately, during the 1980s the authorities in bucharest weakened the relationship between romania and the west, including those with the bretton woods institutions, almost close to severing all ties. after the fall of the communist regime, the normalization of the relationship led to a new beginning. as