Romanians’ Public Debts Saga
Journal Title: Annals of "Dunarea de Jos" University - Fascicle I. Economics and Applied Informatics - Year 2010, Vol 0, Issue 2
Abstract
By the end of 2009, a very cold breath of austerity was blowing from the European financial and banking system and thoroughly was touching every Member State’s economy, but only for some of them perspective of this severe situation is called bankruptcy frequently. By the spring of this year (2010 – author’s note), Greece’s financial problems set all the Europeans governments on fire and, according on the most worrying news alerts, Germany was terribly angry and eager to treat this country as an undisciplined schoolchild. Many and heavy financial disasters are forecast for other countries as well, and it seems that Spain’s, Portugal’s or Italy’s Mediterranean structure and behaviour would be the reason, since these countries are in pretty identical trouble just like Greece. The ex-communist recently EU Member States, that are united into the so-called platoon of the emergent economies, rapidly detected their own vulnerabilities and their well-known resources leakages. Then, in the old-time verified and practiced tradition of “cuts and poverty under oppression” which communism taught them well, they were abruptly compelled to conform and to adopt dreadful austerity measures. Although among them, Romania is again a special case, taking into account but the heavy burden of the 80’s unbelievable sacrifices and privations, which the population endured because of the totalitarian decision of paying its whole debt. The paper reveals and analyses that, despite the actual context and the political circumstances which are totally different, Romania applied an unprecedentedly severe plan of cuts and privations, installing a general and bitter sensation of déjà-vu, instead of living and feeling the European membership status!
Authors and Affiliations
Monica SUSANU
Keywords
Related Articles
- EP ID EP97325
- DOI -
- Views 109
- Downloads 0
The Effects of Financing on Enterprise Performance
In this paper we are proposing to approach a theme very topical in our country: choose of the most profitable and comfortable sources of financing. The major objective of research in this work is the foundation of essent...
Cash Flow Analysis on the Example Cormans Ltd. Galati
Finding appropriate ways to use cash flows to achieve financial diagnosis is one of the hardest tasks for financial analysts. Literature stressed the advantages for financial diagnosis users, when using flow information,...
Fuzzy Dynamic Discrimination Algorithms for Distributed Knowledge Management Systems
A reduction of the algorithmic complexity of the fuzzy inference engine has the following property: the inputs (the fuzzy rules and the fuzzy facts) can be divided in two parts, one being relatively constant for a long a...
Change in Education. Challenges of the Education System
The education system must constantly adapt, customize, innovate and operationalize its quality management, thus ensuring a balanced management of the relationship between vision, values and results based on real ch...
A Literature Review of Foreign Ownership and Company Performance
The purpose of this article is to review the results of research papers conducted in the area of foreign ownership impact on company’s performance and to highlight the specifics of this linkage in the environment of tran...