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Merkel demands that debts to German firms be paid

Merkel demands that debts to German firms be paid

Autor: Iulian Anghel

13.10.2010, 00:11 5

Germany's powerful chancellor Angela Merkel yesterday demandedin her meetings with Premier Emil Boc and with President TraianBăsescu that the Romanian state should pay its debts to Germanfirms and give German ethnics their properties back fast. Germanyis Romania's leading commercial partner (13 billion euros worth oftrade in 2009) and the second-biggest foreign investor (over 7.5billion euros), but political relations have not been the mostcordial despite both governments being right-of-centre over thelast few years. Relations were better during the Năstasegovernment, when Germany was led by social-democratic chancellorGerhard Schroeder. The Germans do not seem to have forgotten thatin 2005 Deutsche Bank lost the race to take over the BCR (biggestbank in Romania), with the bank ending up in the hands of Austria'sErste following the modification of the privatisation contract.

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