"Black holes" under observation

The International Monetary Fund (IMF) and the EU have granted Romania a 20 billion euro loan under strict conditions. The money is badly needed, writes the daily Gândul: "The memorandum signed between Romania and the IMF foresees transferring responsibilities from the government to the Fund. Every three months the government must show that it has used the public money solely for the purpose of economic recovery. ... In addition the ministries must submit all available information to the IMF on businesses in which the state is a shareholder; it must show how and to what end money was spent, and whether the restructuring plan was taken into account. In other words the 'black holes' are under observation, and the good news is that this observation is not only being done by the state, because with the exception of the energy sector, the number of profitable state-owned enterprises is tiny."

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