Romania is not in a rosy situation (and who is?, you will say). On the contrary, the picture has become quite bleak these days. The country has accumulated debt, it has kept bleeding money in previous years, the unemployed rate has increased and keeps going up, while many foreign investors have left the country taking shelter somewhere else. The ones which stayed and the surviving Romanian companies keep their eyes on the horizon, really not knowing what to expect and cautiously keeping a life line at hand.
Romania has an ongoing stand-by agreement with the International Monetary Fund that it’s trying to keep alive to cash in the remaining loan installments and push some energy into its veins. But the political bickering and the instability that come with the big changes in the country- the pensions, state salary cuts, tax increases and so on- don’t seem to be of much help. Meanwhile, Romanians are squeezed between unpaid bank loans and lower revenues, while for some, unemployment clouds gather on the horizon.
It might not be much different in other European countries. Compared to some of its peers in the region, Romania stands on better grounds for the time being. However, that’s not the point. For now, Romania is a car which doesn’t have enough fuel to go ahead and which seems to be driven by the wrong driver.
How do you think Romania can be re-started and by whom (or by what)? What road should the country follow to achieve a higher level of economic development, which would allow its citizens to live decent lives? You might have seen how things were done in other countries. Share the knowledge. What would you do if you were to run this car?
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