Romania Will Be Affected By Fin Crisis, But Can Overcome It – President

"We will certainly not go unaffected by this crisis,” Basescu said, adding the country “has the resources needed to overcome this situation".

He said the threat of a crisis shouldn’t impair the continuation of reform especially in education and healthcare. The president said teachers’ salaries should be higher, to motivate the young generation to consider a teaching career. In this respect, the president gave the example of the justice system, where magistrates started to retire after salaries and pensions increased, making room for a younger generation.

He said the same procedure goes for the education system.

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“We need to pay teachers better, to motivate young teachers to join the system instead of over 9,000 substitute teachers,” Basescu said.

Speaking about the economic crisis, the head of state said it will impact Romania, and signs have already occurred, as production in some sectors has lowered in the last quarter of the year, but said the country has resources to overcome it and will reach an economic growth of about 4.5% next year.

Basescu and Prime Minister Calin Tariceanu will attend Friday in Brussels the informal meeting of EU heads of state and of governments, who meet for talks on ways to counter the effects of the global financial crisis.