A new wave of crisis begins with Romania

Romania is on the verge of default

In brief: The first country in Europe, that will fall by a new wave of crisis among the poorest in the EU is Romania. Romania is standing at the crossroads of poverty and destitution already.

A new wave of recession overtook Europe by surprise. This time, the way the crisis was poor, Romania. The problems of this country have always been serious. But now the economy is on the verge of default, ie actual devastation. European zone does not know how to help Bucharest.

Problems with public debt in several countries of the euro area show that the global economic crisis is not just far from complete, and Europe and is preparing a new wave of recession, which could swallow the weak country to death. This opinion was expressed on the eve of the vice-president of the World Economic Forum (WEF) Briton Mark Malloch Brown. “The difficulties of the euro area show that the present crisis continues. Moreover, it can manifest itself in various forms and sectors”, – said Mr. Malloch Brown at the opening of a two-day summit of the WEF in the Qatari capital Doha. In these circumstances, in his opinion, a matter of urgency should be to reform the global financial system. Meanwhile, the European crisis reached the Balkans: the situation in Romania is developing in the Greek script. The authorities are forced to ask financial assistance from the IMF. The country will cut salaries, pensions and benefits will increase taxes. In order to save even going to close schools and hospitals.

Ukrainian Globalist
2010-05-30 22:29, Economics.

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