Traian Basescu: Illusion of living on credit was shattered not only in Romania, but throughout EU

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Illusion of living on credit was shattered not only in Romania, but throughout the European Union (EU), said on Tuesday President Traian Basescu.

„Illusion of living on credit was shattered not only in Romania, but throughout the EU. For this reason, the two documents adopted yesterday (by the European Council – editor’s note) have a special significance: the final form of the Treaty (the Treaty on stability, coordination and convergence – editor’s note) and a declaration that aims to create jobs „, Basescu said in a statement given at Cotroceni Palace.

He stressed, in essence, that the European Council on Monday was a decisive one for what will happen in the EU in coming years.

„It shows the political leaders’ will to redress the economic situation of the EU, a situation that has reached the stage when options could not longer be delayed. In my opinion, already things were delayed for too long”, added Basescu.

„Contrary to some information in the press, nothing was signed in Brussels. It was a negotiation between political leaders in an attempt to keep the main objective, of the measures to be taken. (…) The form to which the treaty was brought, following the last European Council, represents a compromise that maintains the idea that no one can continue to ensure the welfare of own people based on loans”, President Basescu also said.

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