10 Martie 2009

Basescu talks crisis: An external loan would shield us against a sharp market deterioration

President Traian Basescu told the Parliament in the meeting that took place earlier today, that Romania didn’t need an external loan to secure state payroll, but the CA deficit and debt of private sector were likely to hamper state’s action against crisis.

The head of state added that an external loan would shield Romania against a sharp market deterioration.

He also said that EU had put at the new Member States’ disposal a 30-bln-euro economic stimulus package for 2009 and 2010, but these funds could not be accessed in default of a partnership with IMF, as the European Commission doesn’t have the levers to control the stimulus package spending.

Traian Basescu stressed that Romania, as well as other countries would face negative evaluations from specialized agencies, but the external finance would be a reliable ‘safety net’.

He started his speech before the MPs by saying that Romania could become a modern and reformed state at the end of the global financial crisis.

The parliamentary session started with few-minute delay, to which 375 MPs attended.

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