Romania is not one of the countries where the economic crises reached its climax. There are no "green shoots” of recovery in Central and Eastern Europe yet. These conclusions have been reached by two top class analysts from Great Britain: Quentin Peel (Financial Times) and Laza Kekic (Economist Intelligence Unit) - and Manfred Schepers, vice-president for European Bank for Reconstruction and Development (BERD).

Quentin Peel, Financial Times: Some of the worst consequences of this crisis have not yet been seen

Some of the most dramatic consequences of the crises have not yet been seen. We have been expecting much more popular unrest. We’ve seen demonstrations in Latvia, Bulgaria and a few other countries, but no major uprisings. One might have been expecting in Ukraine, where 30% collapse in production is dramatic and the sort of unemployment figures we are expecting to see will be dramatic.

The fragility of the governments

Thank God for European Union’s enlargement. 10 Central European countries had come into the EU, giving themselves a much stronger insurance policy than they might otherwise have had. The enlargement of the European Union has been the most successful foreign policy of the EU in the recent years.The problem is that the process of integration is only half-way there: the transition, the process of building the institutions, infrastructure and the political practices in the new EU member states must be complete for them to become full members of the EU. Joschka Fischer compared the situation from the new member states with a group of people trying to cross a wide river and, suddenly, the recession comes like a tidal wave and catches them in the middle. Nobody is going to emerge unscathed from this. The credit crunch hit at least 80% of the European banks that dominated the transactions in Eastern Europe: Austrian