Romania Cannot Make It Out Of The Crisis By Itself – President

Basescu met Sunday in Satu Mare, northwestern Romania, with local authorities, teachers and employees in the healthcare and agriculture sectors, and spoke about the Romanian government’s anti-crisis measures.

„Romania cannot make it out of the crisis by itself, because it is not an isolated country. Romania was hit by the crisis as much as the other European countries,” he said.

Basescu stressed Romania only worked on a plan meant to cushion the effects of the crisis, not pull the country out of the crisis, by keeping the euro-leu exchange rate under control and financing the budget deficit

According to the head of state, the lending agreement with the International Monetary Fund was highly necessary to pay pensions and salaries, and to finance investments covered from state funds.

Besides a deepening recession, Romania is also faced with political turmoil, after the Parliament dismissed the outgoing government with a vote of no confidence on October 13.