The recession turns global, Romania may decide it needs the IMF funds after all, while the crisis deepens and seems to be longer and more serious than anyone imagined. Meanwhile, Romanian politicians continue their quarrels and the Tourism Ministry attempts to re-connect with the German giant operator TUI.

The world is officially inn recession, for the first time after the Second World War, the World Bank warns in its latest report. The document suggests that the rich countries should save 0.7% of the funds used to stimulate their own economies, in order to use is in a "vulnerability fund" for developing countries, Evenimentul Zilei notes.

At the same time, Romania president Traian Basescu held a speech in front of the Parliament on Monday, stating that "The state reform plus austerity equals a chance for Romania". "The crisis may be longer and deeper than we thought it would be", said Basescu, asking the electors to forget the electoral promises made by the former Liberal government and accept the anti-recession measures, same Evenimentul Zilei reads.

The same equation is quoted by Gandul, which adds that Basescu's speech partially confirmed Romania's intention to demand a loan from the International Monetary Fund (IMF). Partially is the key word, since Basescu practically referred to a loan from the European Union, under the IMF surveillance.

Same Gandul reminds the conditions imposed by the IMF to other countries that requested loans so far. "EU answered to all states demanding funds that an agreement with the IMF is first necessary. And not without reason, since the hellish conditions imposed by the IMF are a way to make sure that the funds are spent fairly", the newspaper notes.

In politics, Conservative leader Dan Voiculescu prepares to break the coalition he signed with the Social Democrats, accusing the fact that his party didn't receive any seats in the Government. According to the protocol signed before the elections, the Conservatives should have received 5% of the seats, Cotidianul reads, adding that the move would leave Social Democrats without one of their main communication channels, namely Voiculescu's TV stations.

Elsewhere in the news, Tourism Minister Elena Udrea intends to reopen the collaboration with the German giant tour operator TUI. Formerly involved on the Romanian market, TUI decided to withdraw in 2006, accusing the high prices in Romanian resort, doubled by noise and the lack of hygiene, Gandul reads.