Money from EU funds "can help Romania get out of crisis"

The Governor of the National Bank of Romania, Mugur Isărescu, believes that next year Romania needs to push its exit of the crisis, but warned that this cannot be done by cutting the budgetary expenditures.

Romania should have an obsession with the absorption of funds since its accession in the European Union, Professor Daniel Dăianu explained in the programme "News in the debate" , as these funds could have improved the large discrepancies compared with other countries and could provide the opportunity for infrastructure development, the upgrading of the agriculture or the opportunity of competitiveness improvement, both in public and private sector.

Daniel Dăianu said that now, "the misfortune of Europe and especially of a country like Romania, which is faraway, let's say, from the European standards in terms of development, is that we have a terrible financial crisis, we have a crisis of the area euro which is structural and the European funds would be for Romania almost the only driving force that we have currently available".

Crisis "does not discriminate"

"The elimination of waste, a proper cleaning service in public administration or the elimination of political clientelism would be some things that Romania should do in order to ease the economic crisis, as it is not the only European country going through this", Daniel Dăianu added.

"The crisis strikes everyone, of course some more, some less, but the crisis does not discriminate between countries," Daniel Dăianu said.

As for solutions at European standards for the euro area, which, in his opinion have major flaws because there should be a federal budget, Daniel Dăianu is sure that eventually they will reach a compromise.

According to Daniel Dăianu, "this compromise will be asolution like "we are in control of the situation in Greece, which remains on hold, we control, we try to control the situation in the banking system since the crisis of the euro area is also a banking crisis and we try to prevent the contamination of Spain and Italy".

The President of the European Commission, Jose Manuel Barroso, said he was confident that on Wednesday they would reach agreement on all discussion points and said that one of the lessons that the heads of state and government had learned from the crisis was that the monetary union must be completed by an economic union, to have more discipline, but also more convergence among European economies.

The President of the European Council, Herman Van Rompuy, said that the European strategy to overcome the crisis involves working on five fronts: stabilising the public finances of the Member States, finding a sustainable solution for Greece, recapitalisation of banks, better economic governance throughout the EU and last but not least, strengthening the fund to help the financially troubled countries of the euro area.

Translated by: Iulia Florescu
MA student, MTTLC, Bucharest University