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IMF to discuss Romania’s new precautionary package before the end of September | Romania-Insider.com
Read all at the link, a small part here.
So I told you that earlier this year, in january, the IMF and the EU told the Romanian government, formed since last year's summer from the socialist-liberal mosntrous union (one is center-left the other is solid right, derp) that the country was failing in many of the objectives it was supposed to accomplish by january and provided an extension on numerous reform and objectives deadlines by the summer of this year. So in august I think they came, looked at the results and lo and behold, our inept government failed in more than half of the objectives...
and instead of our PM being a man and taking responsability for his failures, he decided to flip off the EU and IMF saying that: "Well, we won't pursue entering the Schengen area and the Eurozone anymore. THERE!", like the true loser that he is. And on the internal stage he started blaming the party that lost power last year to them.
So. Lo and behold, because our current politicians have stolen SOOO MUCH MONEY from the public budget, they don't have any money left. And they know that they can't help themselves and will steal MORE money next year that they need to do something. So they will sign a new debt agreement with the IMF and the EU. Now this isn't a bailout. Romania's debt/gdp is barely at 30-35%. And the national budget WOULD be sufficient to cover ALL THE EXPENSES of the state and THEN SOME. I mean, we're solid on this. But because they will steal sooo much money, they want to take some european money to pay for all the crap that they have to make so that the people won't pick on the fact that we're being robbed. European money is much harder to steal.
With this debt package of 2-3bil, Romania will owe in total, 27bil euros to the IMF. And that's 2bil euros more that we don't need.
Read all at the link, a small part here.
The Executive Board of the International Monetary Fund (IMF) will discuss Romania’s request for a new Stand-By Arrangement on September 27.
The Government has asked the organization to approve a 24-month precautionary deal, worth about EUR 2 billion, as well as requesting another EUR 2 billion from the European Commission.
So I told you that earlier this year, in january, the IMF and the EU told the Romanian government, formed since last year's summer from the socialist-liberal mosntrous union (one is center-left the other is solid right, derp) that the country was failing in many of the objectives it was supposed to accomplish by january and provided an extension on numerous reform and objectives deadlines by the summer of this year. So in august I think they came, looked at the results and lo and behold, our inept government failed in more than half of the objectives...
and instead of our PM being a man and taking responsability for his failures, he decided to flip off the EU and IMF saying that: "Well, we won't pursue entering the Schengen area and the Eurozone anymore. THERE!", like the true loser that he is. And on the internal stage he started blaming the party that lost power last year to them.
So. Lo and behold, because our current politicians have stolen SOOO MUCH MONEY from the public budget, they don't have any money left. And they know that they can't help themselves and will steal MORE money next year that they need to do something. So they will sign a new debt agreement with the IMF and the EU. Now this isn't a bailout. Romania's debt/gdp is barely at 30-35%. And the national budget WOULD be sufficient to cover ALL THE EXPENSES of the state and THEN SOME. I mean, we're solid on this. But because they will steal sooo much money, they want to take some european money to pay for all the crap that they have to make so that the people won't pick on the fact that we're being robbed. European money is much harder to steal.
With this debt package of 2-3bil, Romania will owe in total, 27bil euros to the IMF. And that's 2bil euros more that we don't need.