The risk of politicians promising more than the economy candeliver, which has caused a great deal of harm to Romania over thelast few years is lurking again given the upcoming elections andthe populism trap is exactly the "road to hell" believes MugurIsarescu, NBR Governor.
In an unusually harsh speech against the discussions on economictopics on the political scene, the head of the central bankrepeatedly used phrases like "frightening nonchalance" and the"road to hell".
He criticised the debates lacking clarity, which are hilarious attimes, over the fiscal issues and said the political factor's rolewas to find a balance between what can be done and what is intendedand balance fiscal burdens over generations.
"The populism trap is lurking, it is almost prevailing in today'spublic rhetoric and is exactly the road to hell for Romania. Therisk of mistaking wanting for being able to has already causedenough harm to the economy. This risk is lurking because theelections are coming. The temptation of promising more than theeconomy can deliver will resurface again," Isarescu said.
The NBR governor feels fiscal and workforce policies have stirredtoo much political, social and union passion especially this year,being grounded in too little research. And debates on the budgetdeficit are being carried out as if "somebody were throwing moneyfrom the sky" Isarescu says.
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