Thursday, May 7, 2009

Romanian President Anticipates a Social Crisis

By Gina Neagu

Epoch times Staff
“Social tensions and political extremism could reach alarming levels if European leaders do not solve the growing unemployment,” said Vladimir Spidla, European Commissioner for employment.

During a meeting with the Foreign Investors Council (CIS) this Tuesday, the Romanian President Traian Băsescu drew attention to the current economic crisis, and predicted a social one after it. In this context, he made a call to CIS members to think twice before sending the citizenry to unemployment.

“It is clear that a social crisis is drawing near. Think twice before moving to massive unemployment,” said the president.

He urged the importance of avoiding an economic sideslip in Romania, which would extend to a catastrophic social sideslip.

The Head of State said that in Romania there will be a definite increase in unemployment. He also added that as well as a government partnership with the banking sector, he now hopes foreign investors can step in to reduce the effects of the crisis on the country.

On the other hand, he admits that although banks have said 'yes' to the partnership with the government, it has not yet had tangible effects.

The World Bank and International Monetary Fund have stated: “The world economy has deteriorated considerably… this trend has serious consequences, especially in developing countries, where financial and economic crisis turn into catastrophic human disaster.”

According to the IMF and World Bank, the crisis has already sent more than 50 million people into extreme poverty, especially women and children.

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