The myth that countries can"t go bankrupt has been dismantled by the current financial crisis, considers university professor Nicolaie Hoanţă, former president of the Carpatica bank, who graciously awarded us an interview.
He stands by his opinion, which he expressed in the beginning of the year, that "there is no point in fooling ourselves that we are going to do any better before 2015-2016. In fact there are signs that not even other people, who are way too proud of being the citizens of powerful Western countries, will do so well in the coming years, not even Americans, who have been deceived by exaggerated consumerism in order to be more easily manipulated", said Mr. Hoanţă.
He explains why he thinks the current crisis will be more severe than the one of "29-33 and he presents us with three reasons why Romania will have serious difficulties, in the current international context.
Reporter: Is the current crisis more severe than the one of 1929-1933?
Nicolaie Hoanţă: The current crisis, which he have dubbed since the beginning, the Great World Financial Crisis (because it is money, finance that is at stake), even if it does have some similarities with the one of "29-"33 (it is the result of the concerted actions of the international finance and it is intended to create a new world order and to concentrate more and more power and money in the hands of its members), it is still however less severe than the one of "29-"33, at least because of the following reasons:
> it is also affecting the public finances of the states themselves, with the goal of dismantling the myth that states can"t go bankrupt, while at the same time placing a fiscal/financial burden on the citizens of the world using a new method (aside from the traditional one of raising the price of everything, including credit);
> it is a lot more sophisticated (one
