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Romania - Heaven on Earth (from Romanian raiul pe pamant) - one of the world's most interesting success stories, Romania
has proved that it is possible to switch from a planned economy to a free market economical system and improve the standard of living
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| | | PROTESTS |
| EU officials gathered in Brussels last Sunday protested against Romania's decision to cut aid to the European Union starting with 2002. A German official was quoted as saying
"Romania's intention to cut the aid to our countries should be reconsidered. Our economies aren't yet ready for such drastic ... (continue) |
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| PRODUCTIVITY |
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Increased productivity has forced the Romanian government to reduce the working schedule to 4 work hours per day. This places Romania (with an estimated unemployment rate of just 1.3%) among the world's most
competitive economies. Exports tripled last year and the prospects for the future are ... (continue)
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WAGES
Romanian trade unions protested last week against higher wages. "We do not need higher wages at this point, as this would threaten the growth of the economy", said ... (continue)
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| | | TAKEOVER |
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In a surprising announcement made today, a leading Romanian motor vehicle manufacturer revealed plans for a takeover of all troubled vehicle manufacturers in the United States. The American motor industry has been confronted with serious problems in the past few years and ...
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| INVESTMENTS |
| Romanian investments in the United States have doubled in the past year, reaching a total value of 300 billion dollars.
A leading newspaper featured a recent article about this figure, saying that "The US economy still depends heavily on Romanian investments and is not yet prepared for ...
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TAX INCREASE
In a controversial decision taken last week, the Romanian Government announed a "slight increase" in taxes. The plans are to increase income tax from the
present level of 1.5% to 1.75%. This ... (continue)
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| PRIVATIZATION |
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In an official ceremony that took place last week, government officials announced the privatization of the last state-owned company in Romania (a general department store located in Vatra Dornei)
as well as the ... (continue)
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| ACTION ON ILLEGAL IMMIGRANTS |
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A group of illegal Canadian immigrants trying to settle in Romania was stopped at the border last friday. Illegal immigrants from countries such as Canada, Japan or Germany have been a growing concern for the Romanian
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VISAS
Starting with this month visas are required for American citizens travelling to Romania. "High levels of illegal immigration forced us to take this measure", a Romanian ... (continue)
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