Tuesday, 21. May 2013 - 12:05
18. 06. 12. - 21:00
President Traian Basescu said today (Mon) at a meeting with Philippe Le Houerou, vice-president of the World Bank (WB), that, in his view the current economic crisis will not end in the next 12 months and that there is no other way to recovery than austerity, local press reports. Basescu said that one cannot oppose austerity to the economic growth. "We are extremely convinced that this crisis will not disappear in the next year. We are facing ahead a period of difficulties on a medium and long term. On the other hand, Romania is one of the countries which are supporting the idea that in this moment we cannot talk about austerity versus economic relaunch. (…) we have to preserve first the macro-economic stability and only after start generating growth and not the opposite", Basescu said. ’This fairytale about stopping the austerity and stopping the focus on macro-economic stability and just throw the money on the table could be the biggest mistake that Europe could make and that could make Europe explode in the upcoming years. We have to preserve both, but the key is the macro-economic stability. We have the experience of 2007-2008 when we had growth by hampering the macro-economy’ Basescu declared. WB vice-president for Europe and Central Asia said that in his view the macroeconomic sustainability and growth are going hand in hand. He urged Bucharest for further reforms in order to support a long term economic stability. Le Houerou listed macroeconomic stability, competition and investments as the ingredients for Romania’s economic growth. In May, Romania went back into economic recessions, following two consecutive trimesters of negative GDP. Romania is the champion of austerity in the EU, following the most severe economic crisis in the past 20 years. In 2010, the right-wing government cut the public wages by 25 percent, increased the VAT from 19 to 24 percent, and taxed pensions with 5 percent. The dramatic austerity measures sent over nine million Romanians on the threshold of poverty, according to EU statistical body, Eurostat. The European Commission backs austerity as against economic stimulus for ending the economic crisis. The Eurotechnocrats are saying that the chests of the economic block are empty, but admit nevertheless that the US economy recovered faster from the 2008 cataclismic crisis due to the stimulus packages disbursed by the Obama administration.
Tragic Ski Girl Dies
A 10-year-old British schoolgirl has died after skiing into a tree at high speed during a family holiday tragedy in the Austrian Alps.
Police chiefs in Hamburg, Germany, are celebrating after new crime figures showed there wasn't a single bank robbery in the city last year.
Chinese property developers who've been thwarted in a bid to buy up an entire Austrian village have settled on the next best thing - an entire life-sized replica.
Austrian children help Romanian kids
A charity project run by the middle school in Hippach has been recognised with an award for its social work by officials in Tyrol.
Mother kills disabled daughter because she couldnt take care of her any longer
A Romanian woman killed her 8 year-old disabled daughter on Wednesday (yesterday)because she couldn't pay for her care, Libertatea newspaper reports.
Policeman accused of sex with the son of his girlfriend
A Policeman from Vulcan, Western Romania is currently being investigated for having sex with a minor, the son of his girlfriend, Cancan newspaper informs today (Thurs).
Serial killer survivor walks away alive after fall
An 85 year-old woman who survived the most cruel and notorious serial killer in Romania some 40 years ago, recently fell from the first floor of her apartment building and she walked away safe and sound, Cancan newspaper reports today (Thurs).
The son of Qatar Airlines BA beaten up in Romania
The son of the Board of Administration of Qatar Airlines Akbar Al Baker, was beaten up over the weekend at the launching party of a posh club in Mamaia, at the Romanian Black Sea shore, Cancan newspaper reports.
Majority starts president’s suspension procedures
A day after the Social Liberal Union (USL) legislators dismissed with a large majority of votes the two Speakers of the Parliament, the Union started today the procedures for the suspension and possible impeachment of President Traian Basescu. This is the second time when the Parliament asks for Basescu’s suspension.
Some 177 Roma repatriated by French authorities to Romania
Some 177 Romanian citizens of Roma origin were repatriated on Tuesday night from Lille, France, Romania TV news channel informs today (Weds).
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