Intl Fincl Crisis May Speed Up Romania's Modernization

The financial crisis, which asks for some decisive economic measures, might actually help Romania by accelerating its modernization and reducing its bureaucracy, with or without the International Monetary Fund's financial help, Prime Minister Emil Boc said Monday.

The economic and financial crisis that requires aggresive measures, must be the grounds of Romania's modernization, Boc said during a debate in the Chamber of Deputies on the government's anti-crisis program.
 
"This crisis can do us a favor, as it can be the diet putting an end to the state's bureaucratic obesity. The crisis will speed up the modernization process," Boc also said.
 
According to him, the structural reforms are not dictated by the IMF, but they are necessary and have been started by the current Government since taking over its mandate in December 2008.
 
He said the authorities are currently analyzing the possibility to take a loan from the European Commission and the IMF, but the Government is determined to modernize Romania with or without the international institutions' help.

Mediafax