Romanian Pres: Govt Must Proceed To CEC Bk Capitalization, Not Wait For EC

Thus, Basescu advised the Government to take action and no longer wait for the opportunity decision of the “Brussels’ bureaucrats.”

 

During this period of financial crisis, the small- and medium-sized enterprises need financing and they could not wait for the EC’s bureaucratic system to start functioning for making the needed analysis.

 

Basescu said the recapitalization would be made with funds approved from the budget, which was established since February or March.

 

Asked whether the Government could ignore the European Commission’s decision, Basescu recommended the journalists to read the statement of the president of France, Nicolas Sarkozy, as regards budget deficits. Under this circumstances, Basescu said the bureaucratic system is not fit for periods of crisis and the EU’s member states should undertake decision-making actions.