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Romanian Senator Mircea Geoana on the outlook for the European economy and lessons learned from Greece’s debt crisis.
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Very much.
So will help the eurozone might not be the most coveted club to belong to right now with governance -- look at one country.
That is very much waiting anxiously on the sidelines to join with us now in a Fox Business exclusive.
Is Romanian senator -- John and it's wonderful to see you once again -- -- Fox Business exclusive because so many people are questioning right now.
The viability of the Euro zone yet you are not want to.
No.
I was thinking you're listening to the news from Greece that drama rhymes with the drama Jessica -- to the and I hope this would not be the case because this would be disaster for everybody including for the non eurozone countries like my country remain.
And of course there's one thing to be disciplined in -- to have macroeconomic.
And vigilance.
And to try to aim to don't feel the criteria to join the Euro zone.
With a different thing to join and at the questions -- would countries that would weaker economies.
We governance.
And significant -- economy.
-- -- -- to be part of the eurozone after the Greek experience that's one question.
As -- really easy desirable.
For countries fulfilling eventually the criteria to join the eurozone to go there -- become but the the -- torrential.
He's so big that you could be eventually crushed like a Coca-Cola can.
In this huge difference between the competitiveness of our economy and and the more about what.
The most attractive thing for Romania when it comes to joining the Euro -- is -- the trade opportunities.
Not that much because -- -- is the -- a single market.
Which operates pretty well there's room for improvement.
So the idea is basically to be -- -- not be -- to the country is that it'll be moving forward in terms of a super integration.
He's not the only about the currency it's about belonging to a club.
Which eventually could really go into -- true.
Strong European Union but my question has and the question of countries like Romania.
And this question -- also he's very loud and clearing potent.
In the Czech Republic in other countries now a situation.
Is it really.
The moment to join you wrote today before we see which is the outcome of their Greek drama -- -- And also if we see you we -- -- to join and to which would be the consequences of that.
Right I know it's hard to answer this question I'm about to -- -- ask it anyway.
You can you guarantee as as at least one of the leaders of this country can you guarantee that Romania because.
You are one -- the second course at -- second poorest Arab nations in the European Union.
Can you guarantee that he wouldn't then at some point flipped over and become -- Greece.
I don't thing that.
In my country and other countries -- -- of Europa would become a second Greece like.
The number one because we are coming.
From all -- significant process of transformation and reform.
Sickening that we learned the lesson and we know which is the outcome so this is a sort of a lesson to be learned by everybody else.
What sensibility looked up -- actually from Romania means -- getting your your public debt in August went from 37%.
Up to about 38 point 2% of GDP but.
As part of the metric in the requirement yet to be below 60% of government to how we.
-- thirty something percent of -- but is another question the question is the public opinion in my country -- other countries.
-- the revolted not only against the austerity measures and a decline have been -- standards but -- also revolted against the political establishment.
There revolted gains bad governance.
They the revolted against corruption including at a political level is that -- happening now.
This price is basically what's happening in Romania because people -- not rioting that aggressively when the cuts were introduced last year.
But -- -- -- the tipping point was reached and is this as it did nerve which is not the only economic and social but he is also ethical and moral and people who NEC.
That people at the top.
Are not making the same sacrifices like -- -- the the bottom of the society there evolved during the streets of Bucharest where is freezing cold.
And still -- up the week day after day.
-- the streets and shouting not only against that current administration but against the whole political establishment.
Which is a sort of an actual and understandable revolt of all people.
-- show will you run.
For president -- for prime minister that there is an election coming up and people are very discontent with that the current administration which happens to be very pro American.
He's probably overly detailed.
Of course somebody has run for president once these never giving up hope right -- -- -- very close actually been very well -- there Y one but this is a is that you can request -- -- have what many important.
-- to -- need be able NBC's the real question.
To really show that the integrity and professional -- are still.
Able to be achieved in Romania and who's gonna reach depths and meeting -- standard.
-- integrity and competence and I would say patriotism in the very decent sense of the time that person -- that group of persons will be the winners of the next election.
Buoyant tell you the problems at the same in every nation people who are just working and trying to make a living wants a government that is clean and not corrupt.
Thank you so much for joining us thank goodness we appreciate -- half remaining into -- get a vote to whether we get.
Eurozone will get you the metals and citizens -- have to be able to build up until the red carpet -- Google are you still like American but I'll take her baby into thinking somebody to.
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