Positive effects of the financial crisis

The daily Romania Libera sees the financial crisis, which has already spread to the real economy, as having had positive effects : "After the year 2000 Romania was a paradise where [only] the gold was missing. After ten years of poverty we woke up with fabulous sums of money in our pockets. We had not earned the money but borrowed it from the bank. This sudden injection of cash, which we will pay off with our salaries in the coming years, was the strongest drug the Romanian people had ever inhaled. It catapulted Romania into a completely new monetary dimension. ... Yet [through the financial crisis] employees will change their attitude. Currently there is a jobs surplus. ... This fact is the main reason why Romanian labour productivity is among the lowest in the world. ... A wave of bankruptcies and unemployment will completely change the paradigm. Saddled with credit and without any real alternatives Romanian employees may think twice about changing their jobs."

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