President Basescu: I pointed to President Barroso the implications for Romania of delayed Eurozone decisions

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President Traian Basescu introduced to President of the European Commission Jose Manuel Barroso, on Tuesday in Brussels, the implications for Romania of delayed decisions on Greece and the Eurozone.

He said at the end of talks with Barroso that he underscored the need for the European Council to take these decisions on Wednesday at its informal meeting.

„In my conversation with President Barroso, I underscored the need for these decisions to be taken tomorrow. We certainty cannot substitute for the Euro Area countries. We talked and I showed Mr. Barroso the implications for Romania of delayed Eurozone decisions. We have a great respect for the huge efforts of the contributing countries, but we need a rapid decision, and I believe that, more then ever before, we need economic integration that will lead to the building of a united Europe,” Basescu said at the end of his meeting with Barroso.

He reiterated that Romania’s CDS has increased of late as an affect of the contagion in the region that spilled out from Greece and the Euro Area.

He mentioned having told Barroso about Romania’s worries over the exposure of European banks on its banking market following a planned recapitalisation of the banks.

‘I had a meeting with President Barroso that was necessary for me and Romania. We analysed together the ways in which Romania can speed up the absorption of European funds and I want to thank the European Commission for both the guide it gave us and for its technical assistance to be granted to Romania,” Basescu said.

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