“If the public spending reforms were on track, under the tax scheme for 2009, the country would need €3.5 billion by the end of the year, namely less than two months. Putting off the implementation of these reforms would only heighten Romania’s financing needs to €5 billion, should the European Union and International Monetary Fund refuse to disburse the following tranches under the aid deal. In our opinion, a growing political instability would cost the country another €1.5 billion”, Croitoru said before the Parliament.

He added that the inexistence of a Government delayed Romania’s compliance to the generally upward trends seen in the large markets.

“It takes political determination to install a functional Government, and I invite you to exercise it”, said Croitoru.