Once again, Romanian policy makers should act fast

After 2008 Romanian authorities used the excuse that the crisis was hard to predict and that is why they acted the way they did. Today, we start hearing the same story, i.e. it is impossible to know what will happen. True, with absolute certainty it is impossible to know what will follow in the global economy. But some idea we do have at least for the short term. Romanian policy makers hide behind this excuse. But why? Either they do not know what to do or do not want to do anything. Putting in place the right policies today to prepare for the global slowdown/recession is less expansive than cleaning up after the storm.

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