BUSINESS

Basescu: Economic crisis could turn into a social one

The Head of State yesterday at Cotroceni vested in offices Bogdan Chiritoiu, president of the Competition Council, Otilian Neagoe, vice president of the institution, and Mircea Valentin and Dan Ionescu, competition advisors, all of them with a term of office of five years.

On this occasion, Basescu said that the present moment of economic crisis can develop into a social crisis, as it has already happened in some EU states. Basescu told those who were sworn in at Cotroceni that their duty is to maintain Romania as an economy based on competition. The Head of State cautioned the members of the management of the Competition Council over the problem of the state aid, mentioning that “on political pressures or political decisions it is possible to make a false step.” Basescu also warned that uncompetitive practices occur more frequently at time of crisis and called on authorities not to give up on laws regarding competition. “Pressures outside the Council must not make you give up laws on competition becausethe temptation of governments, institutions and companies to resort to uncompetitive practices is a big one.”

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