President: Romania Has No Money To Raise Pensions, Wages In 2012 Regardless Of Court Ruling

Romania’s President Traian Basescu said Wednesday on public radio RRA that, regardless of the Constitutional Court’s ruling on authorities’ decision to freeze pensions and wages in 2012, “there is no money”.

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"Regardless of what the Constitutional Court decides, there is no money. If money existed, it would be paid," said the head of state referring to the law that freezes pensions and salaries in the public sector next year.

The law has been challenged by the Opposition at the Constitutional Court.

"We must understand we can't continue borrowing money for consumption. (…) Politically, the Government and I would find it easy to pretend we are generous, at the expense of the country," said Basescu.

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