New IMF loan protects Romanian government

The Romanian President Traian Băsescu has announced that his country will apply for further financial support. At the end of last year the International Monetary Fund (IMF), the European Commission and the World Bank already granted the country on the verge of bankruptcy a loan of just under 20 billion euros. "Everyone will be happy," the daily Gândul comments: "The IMF because it charges interest for the loan and because it can cast itself in the role of saviour of the economy once more. The government because on the one hand it has someone to blame when it has to dismiss public servants and cut pensions, and on the other because it can once again use the agreement as bait for attracting foreign investment. Everyone is happy - apart from the Romanians who are not legislators and who don't belong to the privileged class. ... A new IMF agreement will achieve only one thing: it will delay the moment when the true face of the government is revealed to us; its true ability to get the economy back on its feet."

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