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Romania Finance Minister: An agreement with the EU / IMF, difficult to avoid

de Radu Rizea     HotNews.ro
Marţi, 24 februarie 2009, 18:49 English | Business

Romanian Finance Minister Gheorghe Pogea declared on Tuesday that a protection agreement with the European Union and/or the International Monetary Fund is difficult to avoid at this point, Reuters informs, quoted by NewsIn.

The agreement may contribute to calming the market and avoiding a possible financial market crisis generated by the high level of dependence of the Romanian economy to foreign cash.

"We could avoid this if we knew that the situation of companies or of the general EU economy will not worsen", said Pogea  in an interview for Reuters. "But, since there is not a high level of certitude, caution is better than repair. Nothing is too expensive for the financial stability of the country. We consider at least two options", said the Romanian Finance Minister.

Pogea said that Romania should obtain foreign financing even before needing it.


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