In the news today: salary cut in state run companies, more insolvencies, leasing market increases

Romanian media The state would save EUR 800 million if they cut 25% of the salaries in state companies, which are anyway double than in the rest of the economy. Where do the state's billions go? - in Ziarul Financiar The Government keep tax increase as a backup if the state salary cut fails - in Ziarul Financiar The flat tax and the VAT are still in danger. Romania needs to reactivate its privatizations - in Ziarul Financiar Business people and consultants: the state needs to create fiscal facilities to re-start hiring - in Ziarul Financiar RBS reduces Romanian exposure by EUR 250 million - in Ziarul Financiar Coface: 10,000 companies have entered insolvency and the number is increasing - in Ziarul Financiar Leaseplan: The operational leasing market will increase by 25 percent to 35,000 cars in 2010 - in Ziarul Financiar The super state budget employees who escape the salary cut. The Government wants to ask them not to cash all their money – in Gandul Adevarul's solution for avoiding pensions cut – a drop in salaries for employees of state companies – in Adevarul The crisis year bill: How did the state spend EUR 33 billion it borrowed? - on Dailybusiness.ro Banks are renegotiating large loans. The average value is over EUR 40,000 - on Dailybusiness.ro Short interview with Jeffrey Franks, the head of the IMF mission: You can't afford the luxury to waste time – on Wall-street.ro Isarescu: The situation is complicated, not only Romania's, but in the region too – on Wall-street.ro International media Brown to quit in effort to woo Lib Dems - in the Financial Times Deal neuters threat, but EU must restore its vigour - in the Financial Times Pru and AIG in talks on restructuring AIA sale - in the Financial Times Silk price soars as China’s farmland shrinks - in the Financial Times BA union plans 20 days of strike action, Travel plans for school holidays and the World Cup disrupted - in the Financial Times Europe is unprepared for austerity - in the Financial Times