Traian Basescu: Romania cannot solve crisis alone

Romanian President Traian Basescu on Friday stated while paying a visit to the northeastern Botosani city that Romania will come out of the economic crisis no sooner than in six months after the world’s biggest economic powers do that. Nevertheless, he also added, in his opinion Romania would need at least two years to actually recover from the economic downturn.

‘I am optimistic and I believe Romania will indeed come out of the crisis. Nevertheless, Romania cannot come out of the crisis by only its own efforts. Our country is not in the possession of one of the world’s greatest economies.

The country will find its way out of the economic downturn after at least six month since the U.S. and German markets will succeed in doing so,’ Basescu said, also adding that ‘Romania did not fall into the crisis because of its own realities, but it only suffered because of the effects from the other countries.’

The head of the state also underlined at the meeting with the authorities from the local public administration in Botosani that ‘Romania’s economic growth policy was mistaken, as authorities were trying to stimulate consumption in an excessive manner and not based on the money actually, but by using borrowed money, from the banks.

He also appreciated that the economic salvation of the country resides in the development of sustainable development.

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