Budget for Romania in 2010. Constraints and challenges

Generally speaking, the budget of any state represents the way how that state develops, expressed by the capability to spend for consumption and investments – smaller and higher amounts of money – depending on the income level that the state may circulate, based on the taxes and duties applied onto economy.What happens with Romania in the middle of 2010, when it is facing one of the most menacing situation in terms of the possibility of covering the current budget expenses from the taxes and duties – not to mention the investments?   The paper herein will be dealing with this issue and more:   the reasons of this unparallel situation, compared to the other EU countries;the objectives and prerequisites of the budget building;the main categories of income and expenses stipulated in the budget;the critical analysis of the measures set for recovery and proposal for alternative measures, in order to avoid the ‘grecizing’ the country. 

Crisis and development (one year of crisis in Romania)

The papers show the impact of financial crisis in Romanian economy. In the middle of 2008, when the current financial crisis had begun to be felt in many developed countries of the world, like the U.S., but also with the European countries as Germany, Britain, France, Spain, Italy, Romania is still considered far from these influences, and after some even immune to the effects of the crisis. Romania being part of European financial and economic system and world, could not escape the effects of the crisis that began to manifest with virulence in late 2008 and fully in 2009, with a certain gap with developed countries affected by crisis even in 2007. Besides the contagion determined by foreign markets, the Romanian economy has been affected by the influence of internal factors (high current account deficit to be financed, high external debt, mainly short-term delay of effective anti-crisis measures)

Some aspects concerning the financial security of the country

Given the increasingly globalized economy, in which the inter-dependencies of economic, financial, social, cultural, environmental, as well as other issues are widening, the maintenance and defence of attributes pertaining to sovereignty, independence and national security of each country, become a real and worthy challenge.In other words, the question arises, how could a country, especially one such as Romania, located at the intersection of particularly important geostrategic interests, manager, to converse national attributes of sovereignty, independence and security, while also fulfilling its obligations deriving from international treaties and bodies at which it is a party. 

ELECTORAL POPULISM VERSUS ECONOMIC STABILITY

It is well known that in election years, political parties compete in measures and promises that are more or less extravagant, designed to attract votes from voters.The situation is understandable to a certain extent, this practice being common in other countries as well, important being not to "jump the horse" as unfortunately happens in Romania, where in four years the politicians, in their desire to obtain a mandate in local or parliamentary elections, replete with all kinds of promises, without regard to the impact that their application might have on the stability of the overall economy.As the electoral legislation has become more stringent, attracting voters by giving them attentions and gifts (buckets, packages of food with sugar, oil, etc., or gourmet) was forbidden and election promises have climbed the first rung of the strategy of attracting voters.On the other hand, the old local and central political structures at the end of their mandate try, for the last hundred meters, to adopt populist, hoping both to renew mandates and to solve personal interests relating to special pensions bonuses and all sorts of pecuniary advantages, according to the principle "after us the deluge". 

CRISIS AND DEVELOPMENT (ONE YEAR OF CRISIS IN ROMANIA)

The papers show the impact of financial crisis in Romanian economy. In the middle of 2008, when the current financial crisis had begun to be felt in many developed countries of the world, like the U.S., but also with the European countries as Germany, Britain, France, Spain, Italy, Romania is still considered far from these influences, and after some even immune to the effects of the crisis. Romania being part of European financial and economic system and world, could not escape the effects of the crisis that began to manifest with virulence in late 2008 and fully in 2009, with a certain gap with developed countries affected by crisis even in 2007. Besides the contagion determined by foreign markets, the Romanian economy has been affected by the influence of internal factors (high current account deficit to be financed, high external debt, mainly short-term delay of effective anti-crisis measures).economic and financial crisis; macroeconomic indicators; credit; non-government; economic growth resumption in Romania

Supervision of financial markets

Based on the fundamental role of the market in contemporary economic development, in this study we aim to analyse how the financial markets in Romania are regulated, monitored and, especially supervised, compared to developed or developing European countries, close or far away from the national borders.The study highlights the main trends in the existing financial supervision systems abroad after the 2000s and ends with proposals based on the authors' opinion regarding the best option for the Romanian supervisory model of financial markets

Post-crisis financial intermediation

The recent financial crisis that begun in 2007 in the US, which then swept around the world, has left deep scars on the already wrinkled face of the global economy.Some national and regional economies, which had money for expensive makeup, or created money[1], managed to blur or hide the scars left by the crisis, others are still facing difficulties in overcoming the effects of this.The rapacity of banks, their greed and risk ignorance, were the origin of the outbreak of the last major economic and financial crisis but unfortunately those who were responsible or, rather, irresponsible, paid little or nothing at all for the burden of their bad loan portfolio. This cost has been supported by the population, either directly by paying high interest and fees [Mihai I., 2007], or indirectly, through the use of public budgets to cover the losses of banks, most of which had private capital. In this context, we intend to examine the state of financial intermediation in Romania in the post-crisis period, and to primarily follow: (i) The structure and evolution of the banking system; (ii) Non-government credit situation; (iii) The level of savings; (iiii) Loan-deposit ratio; (v) The degree of financial intermediation and disintegration phenomenon etc., and to articulate some conclusions and suggestions on the matters that have been explored.

Research Challenges for eLearning Support in Engineering and Management Training

AbstractThis paper analyzes the need for advanced/innovative eLearning type of products intended for lifelong learning and teaching in the engineering and management field. This field is relatively new in Romania and needs modern educational techniques in order to improve the efficiency and quality of graduates for a fast integration in the labour market. The objective of eLearning is to train human resources for education and to raise the quality of student training which will lead to the rise of hiring potential and workplace integration. This raises many challenges and requires studies of national and international interest, training research methodology, and laboratory connections to research centres and networks

Simulation Methods in the Contact with Impact of Rigid Bodies

The analysis of impacts of elastic bodies is topical and it has many applications, practical and theoretical, too. The elastic character of collision is put in evidence, especially by the velocities of some parts of a particular body, named “ring”. In the presented paper, the situation of elastic collisions is put in evidence by the simulation with the help of the program ANSYS and it refers to the particular case of the ring, with the mechanical characteristics, given in the pape