Romanian president Traian Basescu said Friday he supports the Government’s recently adopted fiscal strategy, adding Romania would default if it keeps borrowing money to pay wages and pensions. read more...

Romania's fiscal strategy was agreed upon with the EU and IMF, and does not affect current public wages or pensions, but the value of these payments in 2012 will be set through next year's budget and wage law, according to developments on foreign markets, Prime Minister Emil Boc said Friday. read more...