Thursday July 16, 2020

Cold wind of debt touches Romania

It is 20 years since the revolution in Romania and the overthrowing and execution of Nicolae Ceausescu, but there is no talk of commemoration celebrations just yet.

28th February, 2009

It is 20 years since the revolution in Romania and the overthrowing and execution of Nicolae Ceausescu, but there is no talk of commemoration celebrations just yet.

The road to a full free-market economy was a difficult one for Romania. In the early years, the International Monetary Fund (IMF) refused loans to Romania, and the country left isolated - was brought to the brink of despair. Economic reforms labelled “shock therapy” took their toll on the...

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