Romanian President Traian Băsescu announced at the end of last week that the “story” being run in newspapers and on television about an economic rebound is not a reality yet, with Europe still being in crisis.
Amid prospects of a slowdown in exports and in the absence of
measures able to bring about a consumption rebound, an economic
recovery in 2011 is less likely.
“I have just come out of a meeting with the heads of state and of
government in the EU (on Friday, in Brussels, at the session of the
European Council i.e.) They probably know better than others that
Europe is still in crisis. The story in the papers and on
television about economic recovery is not reality yet,” said
Băsescu at the beginning of a meeting with the IMF, mentioning that
to the risk of economies falling back into crisis is still “close
for all of us,” according to Mediafax.
Most European economies, Romania’s main trade partners, have put
recession behind. But prospects are not very optimistic considering
the pressure to adjust public spending in order to cut budget
deficits.