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the European exchange rate mechanism (ERM II), the Polish government initiated an extensive privatization program to reduce the budget deficit and maintain public debt below 50% of GDP. Thus, Poland regained the investors’ confidence that began to return to their country. Because of the fact that this economic crisis was much longer than expected, the 50% threshold was exceeded due to the financing needs of the budget deficit which has increased 5 times in the period under review. The goal of the deficit was the need for co-financing the projects with EU grants and also the investments in infrastructure that is why the output from this EU recession will find Poland with a healthy economy based on sustainable development. Before the crisis started, Romania faced a high budget deficit, an overly indebted private sector, a real estate bubble and an over heated economy, Romania called on the help of the IMF in order to flatten the adjustment of internal and external imbalances set in motion by the global economic crisis. Because of the delay of the Government in adopting tough structural reform measures and reduce public spending, eventually to channel the funds at its disposal to the economic sectors that would really help the development of a sustainable economic development, Romania was looked at and cataloged by the analysts as being without an economic horizon. Even though the percentage of the public debt in the GDP is a reduced one (30.8% in 2010) it is alarming that this public debt has risen with 300% in the analyzed period, from the borrowed sums being financed the social budgets deficits, the Government being content with a relative quietness of the social strata and waiting for the passing of this period without major interventions. The measure to reduce budgetary spending by cutting 25% in the public sector did not have a macroeconomic result because of the useless spending made from the same amount. In the analyzed 370 period, Romania was the only country that had registered a decrease in productivity. An aspect that probably did not get enough attention is that the financing of the excessive budgetary deficits, whether is done internally or internationally, is not a costless action. On the contrary, the level of the interest rate at which the debt has been contracted, as well as its schedule are extremely important aspects and can become an extreme burden, as situations exist in which the principal of the debt can be compared with the interest. Confronted with the lack of immediate low cost financing, some states have even advanced the unorthodox solution that the government securities be repurchased by the central bank. This option can not even be taken into consideration, as the conditions of the Romania’s accession to the Monetary Union targets too also other dimensions of the nominal convergence, beside the stability of the public finances, as would be: inflation, the stability of the exchange rate, interest rates, which would strongly affected by such a decision.
Bibliography 1. Albu, Lucian-Liviu, Pelinescu, Elena. Suteinability of public debt,. Bucharest: Romanian Centre for Economic Policies, 2002; 2. Beleanu, Pavel and Anghelache, Gabriela. Romania’s Public Fiances. Bucharest: Economic Publishing, 2005; 3. Burada, Mihaela Alina. “ The ration between internal and external public debt“ “ Economic Tribune” Publishing no. 19/2004; 4. Ceauşu, Iulian. Enciclopedic Managerial Dictionary, Vol. I. Bucharest: Academic Management Publishing, 2000; 5. Gaftoniuc, Simona. International Finances. Bucharest: Economic Publishing, 2000; 371 6. Klein, Thomas M.. External Debt Management – An Introduction. World Bank Technical Paper Number 245, Washington, D.C.; 7. Moşteanu, Tatiana. Public finances: notes and applications. Bucharest: University Publishing, 2005; 8. *** The strategy for managing guvernmental public debt 2011- 2013; 9. *** Public debt law no. 313/2004; 10. *** Anual reports of BNR during 2001-2010; 11. *** Anual reports of the Ministry of Public Finances regarding Romania’s external public debt during 2000-2010; 12. *** Anual reports of the IMF from: 1997, 2000, 2002 si 2009 13. *** Data series regarding the evolution of Romania’s external public debt during 1990-2010 given by the Ministry of Public Finances
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MINISTRY OF EDUCATION, RESEARCH, YO
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Scientific Committee: Dr. Băbăiţ
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SECTION: INTERNATIONAL BUSINESS AND
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SUB-SECTION: MARKETING ............
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CHALLENGES, VULNERABILITIES AND WAY
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Data in Table no. 1.1 and Figure no
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T1/2010 T2/2010 T3/2010 T4/2010 T1/
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Table no.1.4. Romania's foreign deb
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Table no.2.1. Romania: Macroeconomi
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change) Terms of trade (percentage
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Table 2.2 shows that the weight of
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policies have not proved effective,
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The external debt can create a burd
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Table no.4.2. Contributions (%) to
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The data in Table no.4.6 emphasize
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- making the policy makers accounta
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Real GDP growth Average CPI inflati
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Real GDP growth Real growth of dome
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CPI Inflation (average) CPI inflati
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Households Non-financial corporatio
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Annex 6 Emerging Europe of selected
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Plenary session 45
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The concept of decentralization In
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macroeconomic stability and income
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"internalize" them at a local level
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one that best meets the requirement
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egional actors such as associations
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d). Political regionalization (poli
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3. Black P.A., Steenekamp, T. J. an
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A NEW THINKING FOR A NEW WORLD. REP
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forget that in reality there are no
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Another aspect - the second in our
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economy on one hand and the nature
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to each other and just as indestruc
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present realities. And do not forge
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that continues to create a sensatio
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ecology’s and of the eco-economy
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8. A free market or another type of
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undirected but totally spontaneous,
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(16) Brown Lester, Eco-economia. Cr
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I. Introduction The topic of this p
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a)funds allocated by states for ban
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continued to be enforced without ea
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ut not for a long-term project whic
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noticed, at Maastricht the decision
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ACCOUNTING FOR SUSTAINABILITY: WHAT
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stable regimes. Opposition protesto
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the perspective of accounting for s
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audit and give a professional opini
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type of outputs from accounting for
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4.3.1. Research methods Field study
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Research is useful to assess any re
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12. Fagerström, Arne, et al., (200
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LE DYNAMISME DES TPE ET PME ET L'É
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Private sector share/GDP Large-scal
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acquisitions, ou de l'extension int
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A QUALITATIVE RESEARCH REGARDING TH
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and control. During the planning ph
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marketing tools. Based on the answe
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10.Pantea, Carmen and Pop, Nicolae.
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Section International Business and
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2010, and the employment rate decre
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third of the new jobs have been cre
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References 1. *** Mednet Marketing
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POVERTY AND LIVING. ROMA POOR NEIGH
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ignored, it stems to great extent f
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disappearance. The East European co
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Tinca (2,500), Diosig (1,500), Bat
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education and occupational training
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30,0% 20,0% Percent 40,0% 10,0% 0,0
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40,0% 30,0% Percent 50,0% 20,0% 10,
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25,0% 20,0% 15,0% Percent 10,0% 5,0
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40,0% 30,0% Percent 50,0% 20,0% 10,
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40,0% 30,0% Percent 50,0% 20,0% 10,
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Table 12. How many people live in y
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50,0% 40,0% 30,0% 20,0% 10,0% 0,0%
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Table 16. How many rooms does your
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40,0% 30,0% Percent 50,0% 20,0% 10,
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50,0% 40,0% 30,0% Percent 60,0% 20,
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Table 22. Is there current water in
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Table 24. The perception of the pov
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80,0% 60,0% Percent 100,0% 40,0% 20
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20,0% 15,0% Percent 25,0% 10,0% 5,0
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Probably long-term solutions would
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ANOVA(b) Model Sum of Squares df Me
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Annex 5. Simple regression between
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Coefficients(a) Unstandardized Coef
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ANOVA(b) Model Sum of Squares df Me
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UTILISATION OF BENCHMARKING TECHNIQ
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economic growth in order to create
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Romania, as well as Bulgaria, is ex
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Section Economics and Business Admi
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THE BRAND EQUITY OF TOURISTIC DESTI
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services are. Kotler extended the c
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ecorded for Oradea’s population a
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11.Harrison, S. “Culture, Tourism
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THE TOURISM BARRIERS OF THE DISABLE
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prohibit the people with disabiliti
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concerning because 14% of them answ
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START-UP FINANCING SOURCES: DOES GE
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(Carter S. and Rosa P. 1998). The m
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entrepreneurs (for comparison, bank
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6.European Commission 2009 . Flash
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COMPETITIVENESS - GROWTH FACTOR. PO
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- to harness resources and increase
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Heritage Foundation and Wall Street
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DYNAMICS ECONOMIC DISPARITIES IN NO
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Table 1 Unemployment in North-West
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smaller. Cluj in turn, has the high
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ABOUT OTHER KIND OF PRODUCTIVITY AN
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the low price levels - having as a
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Stiglitz - one of the two big Nobel
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13.Jivan, Alexandru. „Do People (
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THE POTENTIAL OF FEMALE ENTREPRENEU
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of the 12 rural centres in each cou
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Levels: local - selection / territo
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York, Routledge Advances in Managem
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TOURISM'S CHANGING FACE: NEW AGE TO
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Leisure time will be used more acti
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Travel is no longer a novelty to th
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YOUTH LABOUR MARKET. MOBILITY, CARE
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from 30-34 years and also from 15,9
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constriction of economic activity t
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time, against the Lisbon objectives
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in family grounding and in the deci
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process, maintaining dysfunctions a
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263
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THE FINANCIAL CRISIS AND ITS IMPLIC
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sovereign debt crises burst. Greece
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crisis in Greece is only a natural
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Subsection: Accounting
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1997, Sveiby, 1997; Chen et al., 20
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we can see in the figure bellow, va
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creation ways are: growth, renewal,
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Sveiby (1997), focused on intellect
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15. Dzinkowski R., (2000) "The meas
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also differed. But the great thinke
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authorities, tax policies are used
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egarding information made public co
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IV. Interpretation of results Table
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correlation with respect to DI, whi
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Subsection: Banking
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currency in Romania which makes our
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R_DOLAR R_EURO R_FRANC R_LIRA R_YEN
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We observe that the coefficient of
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306
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up to 3 months. The definition of M
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The analysis of the correlation bet
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correlation is observed for Romania
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TOOLS USED IN DECISION MAKING Demia
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so on. Integer tolerance is used to
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Page 333 and 334: ORGANIZATIONAL STRESS AND ITS IMPAC
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Page 339 and 340: ELEMENTS FOR A MODEL OF ENTREPRENEU
Page 341 and 342: was to promote equal opportunities
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Page 345 and 346: paradigmă a gândirii sociologice,
Page 347 and 348: HOW FUTURE MANAGERS VIEW SOCIETAL C
Page 349 and 350: Collected empirical data has been p
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Page 353 and 354: EXPLANATORY ECONOMETRIC METHOD FOR
Page 355 and 356: Building models based on the initia
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Page 361 and 362: the organizational hierarchy), as v
Page 363 and 364: Q51 Q53 Q64 Content questions to ch
Page 365 and 366: THE NEED FOR PUBLIC DEBT MANAGEMENT
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Page 369: public funds, the system of social
Page 373 and 374: IMPROVING THE ECONOMIC ACTIVITIES I
Page 375 and 376: finance) is much less developed tha
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Page 379 and 380: 1. "What are the problems faced by
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