I wrote here that I do not think Romania can avoid recession, not just a technical one, in 2012.
FT Alphaville presents a similar story for the eurozone. To support their claim they use the recent PMI data.
Now, let’s take this analysis further and bring it home. Here is the historical correlation of quarterly GDP for EU27 and Romania. It seems to be a pretty safe bet that if they go down we, i.e. Romania, will follow.