Romanian President Traian Basescu

“Public sector wages will be cut by 25% and all salaries, including the minimum one, will be affected.”

“Jobless benefits and pensions will be slashed by 15%.”

“He also said that as part of negotiations with the IMF the country had narrowly avoided an increase in VAT from 19% to 24% and a rise in the tax on profits and income to 20% from 16%.”