ROMANIA AND THE ECONOMIC CRISIS
ROMANIA AND THE ECONOMIC CRISIS

Summary/Abstract: The global financial crisis that erupted in 2008 will have dramatic economic, social, environmental and political consequences for all countries during 2009 and beyond. Although the effects of the financial crisis on developing countries are not yet fully visible, they are likely to be considerable. It was also observed that it is all the more important that the European Union and other developed countries fulfill their obligations in the area of development aid, from the perspective of quantity as well as quality (effectiveness of aid). As the whole political scene is concerned with finding solutions to economic crisis, the main issues related to Romania are of economic nature only. After a few years of sustained economic growth, Romania went into free fall in the second half of last year, against the background of the global economic and financial crisis.

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