Romania's cabinet reshuffle puts IMF loan at risk

Romanian Prime Minister Emil Boc has sacked six ministers, including those holding the important finances, economy and labour portfolios, in one fell blow as a result of harsh criticism of his government's austerity measures. This should not be allowed to jeopardise the IMF agreement, the daily Gândul warns: "No matter who ends up sitting in the uncomfortable boss's seat at the Ministry of Public Finance, the new minister must ... stick to the agreement negotiated with the IMF, which will secure us a loan of 20 billion euros. ... It would be a fatal mistake on the part of the government if, as a result of the cabinet reshuffle, Romania increasingly distanced itself from the IMF agreement which was sold to the population as a mountain of money from Washington and clearly shows what needs to be done: reform of the civil servants machinery through budget cuts for public sector employees, modernisation of the pension system and a long-term annual budget plan. Romania won't be able to live on borrowed money for much longer. The point will come when no one will believe that we are able to pay off our debts. And we won't know where to turn to get more money."

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