ROMANIA AND THE GLOBAL ECONOMIC CRISIS
ROMANIA AND THE GLOBAL ECONOMIC CRISIS

Summary/Abstract: The worldwide recession has damaged Romania’s economy, affecting all its economical branches like in so many other countries. At global level stock markets have fallen, large financial institutions have collapsed or have been bought out, and governments in even the richest countries have had to come up with rescue packages to bail out their financial systems. Knowing and understanding the global financial crisis, implies using and applying realistically all economic theories as part of the scientific knowledge. Practical action always guided humans to appropriate strategies molded on our current time and space according to the national and international context. At the present time this preliminary discussion about the crisis needs to be built upon the general economic theory, taking in consideration that this theory has both Romanian and European aspects incorporated which are to be applied to the current situation of Romania after joining the EU.

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