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What the newspapers say: October 7, 2008

de A.C.     HotNews.ro
Marţi, 7 octombrie 2008, 2:48 English | Press Review

All newspapers on Tuesday deal in a grim tone with what may seem for an outsider eye to be the imminent breakdown of the Romanian financial system, despite top economy officials and figures retaining trust in the economy. Also in the papers today, Romanian PM Calin Popescu Tariceanu might assume responsibility in the Parliament to block the 50% teachers' wage increase that cannot be supported economically.

Cotidianul reads about the state of the Romanian economy after the various waves of salary increases, taxes of 2,000 euro/year, union strikes asking for more benefits and an exchange rate of 4 Romanian Ron for 1 euro.

The newspaper reads that the world's economic crisis did not miss Romania and, according to journalists, there are several events that inflamed the situation, both internally and externally. Romania's National Bank governor Mugur Isarescu urges for discipline in order to keep inflation low and says that Romania cannot afford huge salary increases.

At his turn, PM Calin Popescu Tariceanu says that, if teachers' wages increase by 50%, citizens would have to pay taxes as high as 2,000 euro/year. However, unions threaten with strikes in order to pressure the government for more salary increases.

Romania libera informs that Romania's officials fail to secure their citizens' savings, in case of a financial crisis. The newspaper reads that, while in Germany the state secures all savings, in Romania the government will only secure those savings that exceed 20,000 euro. However, these amount to only 0.8% of the total.

Nonetheless, Isarescu declared that Romania's economy is stable and that all savings are covered, as much as possible. Moreover, he insisted that what matters more is a thorough supervision of the banks and their policies.

Elsewhere in the news, Evenimentul Zilei reads about PM Calin Popescu Tariceanu's latest strategy: to assume governmental responsibility in the Parliament in order to block wage increases that cannot be economically sustained otherwise.

Such a strategy, journalists say, is considered as advantageous for the Liberal party. Thus, if the government would assume its responsibility, there's a three days time frame when a censure motion can pass against the government.

However, currently such a motion can only pass in the Parliament if it will be supported by both the Social Democrats and the Democrat Liberals. Nonetheless, if the two parties ally, Liberals would have more gunpowder in the upcoming Fall Parliamentary elections.

Therefore, if no censure of motion is submitted, then the bill passes with the modifications wanted by the executive. In this case, Liberals will take all the electoral credit. In this vein, Gandul reads today that Parliamentarians have tens of such laws that wait their voting turn.
























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