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Economic Challenges in the Context of Convergence


The economic crisis showed us that pro-cyclical policies, which Romania was also seduced by, make the recovery more painful. This is why it is important to discuss openly if and why is it worth creating big deficits exactly when the economic situation is good, instead of preserving fiscal space for “hard times”, when the economic expansion will be exhausted.

Responsible Economic Policies and Sustainable Growth


The Romanian economy is currently facing a context circumscribed to 3 post-stages: post-transition, post-EU accession, and post-crisis. These open a “new beginning” from an economic and institutional point of view. In this respect, a new development model must give up at least several illusions: first, the illusion that prosperity can be built on economic deficits and public debt, or on

Public Governance Scan of Romania: OECD Report


In the past 26 years, the economy and the society suffered changes, evolutions, modernisation but, unfortunately, the public sector is the one that was probably reformed the least, and the arguments are not at all difficult to infer. In post-communist Romania there was no profound, systemic interest to assess and redesign public administration, from top to

The Paradox of Modernity: Anti-capitalists against the System


The economic crisis opened a new trend in political and economic debates, one in which it is ‘cool’ to be “against”: against the market, against capitalism, against the economy. This is a popular form of revolt against the system although, if we take as example ‘Occupy Wall Street’, it is easy to understand how far from their goal are the anti-capitalists who protest against the system.

Klaus Iohannis – The Launch of the Presidential Program – Speech by Cosmin Marinescu


Today, economic policy tends to involve much politics and little, too little, economics. At the same time, the economy is answering politics with more and more distrust. There exists the fear that, when the government gives you something with one hand, it will come, eventually after elections, and take it with both hands. In my opinion, the main problem is still

Cosmin Marinescu