Romanian President Traian Basescu on Monday urged the country's parliament to approve austerity measures and said the country needed foreign loans to ease private-sector debts. If the country decides to knock on the International Monetary Fund's door, it would be the third EU member state do so after Hungary and Latvia.
"Romania needs a safety belt, meaning a foreign loan," the centre-right president said in his address to the Romanian parliament. He explained that the problem was not ...
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