The poor man of Europe

"Why are we the poor man of Europe?" asks Revista 22 on its front page, noting that Romania is stuck in its second year of recession while in nearly all other countries of central and eastern Europe (including Poland and the Czech Republic) economic growth has got back on track. "Since we inherited the same type of planned economy from communism and we have a shared past, it would be wise to try to understand what we’re missing out on, the better to withstand the crisis," writes the weekly. The reasons behind Romania’s laggard economy are many and varied. Among these is the image of Romania abroad, writes Revista 22, which interviewed experts from the Fitch and Moody’s rating agencies. "We are too poor and our level of corruption is very high. The national currency is too expensive to borrow, and the waves of recession and inflation that have plagued the country for 20 years haven’t helped matters. Add in irresponsible economic policies and the picture is complete."