"Statements according to which Romania would be insolvent are not only irresponsible, but also anti-nationalistic and make markets anxious. This is not true, Romania does not face liquidity problems", Romanian Finance minister Sebastian Vladescu declared in a press conference on Wednesday, February 24 2010.

The Finance minister adds that "for those who wonder what the Government and state institutions are doing: we're maintaining the macro-economic stability" and he indicated that "Romania's macroeconomic balance has been profoundly disturbed in 2007-2008. Unfortunately, just as many countries need to act in this tough moment, Romania too needs to adjust its spending".

Other statement made by Finance minister Sebastian Vladescu:

We have a budget that allows us to work, and I would like to correct an absurd statement which has begun to circulate, like Romania running into insolvency: this is not true. In Romania, the spending covered by the state is above what we can afford. It is obvious that in Romania the budget spending is far from being efficient, beyond what we can afford and beyond what is sustainable on long and medium term. This prevents us from doing what the citizens request: investments in infrastructure, agriculture, more investment funds in the medical system, in culture and more money for local councils. The social and salary spending are huge. This country will never evolve if it will not secure money for investments. A country that doesn't invest will not be able to pay higher pensions and salaries. We know the needs of the Romanian people, we do not live in a crystal tower. It is a very fragile balance between pensions and salary spending and investment spending and we're trying to maintain this balance. Any pension increase would mean transferring money from one economy sector to the other. Money transfer to the pens