Romania could fall into economic collapse within a few months, UGIR 1903 trade union says

Romania\'s government is the only one not to have so far taken any anti-crisis measure, except for the CEC and EximBank capitalizations which makes it liable for an economic collapse sometime in the next months, said Cezar Coraci, president of the trade union UGIR 1903, NewsIn informs.

According to the union, the measures announced by the government are merely projects and will be implemented too late to make any difference.

“For example, enforcing the tax-exempted reinvested profits in 2010 will be too late and many companies will not withstand the pressure. The anti-crisis measures are made to be promptly implemented,” declared Coraci.

The remaining measures are actually a plan to return to normal.

“The government announced companies they would soon receive their money for the works and services provided to the state. This money is not an aid for the economic environment, but a debt the government had to pay a long time ago.”

Coraci summed up by saying that if the measures proposed by the business segment are not implemented immediately, Romania will face an unprecedented economic collapse in the next months, NewsIn informs.

The economy was shaken up by the financial crisis which had a negative impact on orders and demand worldwide and forced major players in Romania to shut down doors and cut workforce, waiting for better times.


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