Tuesday, March 10, 2009

Romania does not support protectionism: president

BUCHAREST, March 9 (Xinhua) -- Romania does not support protectionism and takes a strong stance against the splitting of the European single market, President Traian Basescu said on Monday in a speech delivered to the joint sitting of the Chambers of Parliament.

"Romania supports competition and free movement, as well as the European Commission's role as guarantor of the union treaties," said the president.

In the same note, Basescu mentioned that a part of Romanian enterprises are ailing exactly because of the shrinkage of their foreign outlet markets and implicitly of the slash in orders.

"On the other hand, Romania backed the auto industry without breaching the principles of the European internal market and of competition. As a conclusion, I ask the government and social partners to only propose solutions that rely on the observance of the regulations of the internal market and European legislation," said Basescu.

The president warned that despite EU support, the efforts of each individual country are decisive for overcoming the crisis, adding that central and local administration institutions need to cut back material and staff expenditures.

Basescu made it clear that he supports the observance of the regulations of the Economic and Monetary Union, the wise and balanced use of the flexibility of the Stability and Growth Pact during the crisis and the implementation of responsible and consistent public policies to ensure macro stability and long-term sustainability of public finance.

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