Romanian President Defends Govt’s Austerity Policy, Says Further Action Needed

Basescu defended the Government’s austerity measures, saying the country cannot afford to keep borrowing money to pump into consumption and needs investments instead.

He also called on all political parties to show solidarity in achieving the country’s goals, adding any other government would have to impose austerity measures to salvage the economy.

„Austerity cannot be overcome without solidarity,” Basescu said, adding the economic crisis was also good for Romania because it revealed its vulnerabilities.

„Any responsible government will continue an austerity policy to set the path for health economic growth,” Basescu said.

The president also said the country still has too many categories of income exempt from taxes and too many economic operators who evade taxes.

Basescu also called on the Government to be more coherent and better explain its policies to the public.