Economic crisis is no ideological crisis, says PM Boc

The economic crisis is not also an ideological one says PM Emil Boc, who believes that „the seed” of the crisis lies in the incapacity of mechanisms in the market economy to work normally.
„There are not few those who have seen in this crisis, it is true, the strongest in the past 60 years, also the end of the market economy, the end of the values at the basis of prosperity in the EU and the other democratic states in the world.
The economic crisis is not also an ideological crisis. This does not mean that the seed of the crisis does not lie in the incapacity of mechanisms in the market economy to work normally,” said, on Wednesday, PM Emil Boc, at a financial forum for Central and South-Eastern Europe.
He stressed that the market economy supposes the existence of check rules and means, which have to be functional.

„I essentially believe that the origin of the crisis does not lie in the market economy, but in the incapacity of mechanisms of balance and control within the market economy to be functional. I think of the incapacity of some mechanisms in the financial-banking sector to work properly.
They are those mechanisms that had the duty to check that the rules of the game are observed by everybody, at some time they did not work as they should have to, and now the problem is the existence of new regulation mechanisms in the financial field, ” said Emil Boc.
He reminded that at the European Council this June discussed will be a new plan about the checking regulations in the financial field, to prevent „slippages” in future.
In believe in the values of the market economy, I believe in the market economy, if its rules are observed, it can offer prosperity to the world, Romania included, and I believe that the strengthening of the mechanisms of financial auditing can be the solution to overcome, in some respect, a difficult period of the economic crisis, said Boc.
According to the head of Government, in Romania, the effects of the economic crisis are stressed by the fact that, in the good times for Romania, with an economic growth of 8-9 percent, we did not make savings for more difficult times”.

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