By: Ferry van de Mosselaer
Its our challenge - together, as allies and partners - to conformation the bridges to the next millennium, from the Danube to the Potomac, from the Black Sea to the Pacific naval and beyond, wherever people believe in and fight for immunity [Romanian President Constantinescu, US Congress Session, July 1998. Romania in the 21st hundred: Challenges and Opportunities in an Evolving Trans-Atlantic Environment ]
Background
Christmas day 1989; Romania removes itself from its dictator Ceausescu and, in unity to the rest of Eastern Europe, its Communist regime. This is the beginning of the so called transition power point, the period in which Romania is going to transform its complete political mental synthesis into a democratic republic and its command economy into a foodstuff economy. From an almost fully state-owned economy, with the private sector yet contributing 12.8% to the gross domestic product in 1989, to an international orientated market economy in the spirit of the EU in 2007. This swell slurping project for both sides (EU and Romania) has to be a beneficial investment. What could be the economic added-value of Romania to the EU and what impulse can the EU legislate to the Romanian economy?
Romanian development
The figures of the Romanian macro-economic development between 1989 and 1999 argon not as progressive as, maybe, expected or they dont tell the improvement they should have shown. Private sector contribution heretofore increased significantly to 61.5% in 1999, still the state-owned companies play a dominant role in several sectors. Inflation place have exaggerated with a 256.1% inflation rate in 1993 as a maximum. Unemployment increased from 3.0% in 1991 to 11.5% in 1999, although ILO (International stab Organization) figures show a rate of 6.8% in 1999 and 7.1% in 2000. GDP growth rates were 6 out of 10 age negative with...
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