Romania Under the Tyranny of Small Figures

Introduction xv Part I ROMANIAN TRANSITION: AN EXPENSIVE IMPROVISATION Coordinates of an economic failure 21(8) The reform -- nothing but efficacy 29(6) Why does not reform work! 35(4) When the game rules are absent 39(30) Property -- an issue to be solved 39(8) Role of State: calamitous confusions 47(3) Political aggression against business 50(7) The private sector should not depend on the State 57(2) A groping dilemma 59(1) Two main issues in Romania: SMO's and football 60(5) Trade unions -- roots in the past 65(4) Thefts -- the only high figures 69(10) Fewer people, higher poverty 79(6) Tragic comedy of the ``social component'' 85(4) The controversial role of the international financial organizations 89(4) A simple explanation: too much stealing, too much poverty! 93(2) Demonizing reform 95(2) Economy -- an unsuccessful hybrid 97(4) Facing atypical problems 101(4) Survival through black economy 105(4) If only Romania were a ``market place''! 109(6) PART II THE MAIN PROBLEMS IN ECONOMY: APPROACHES AND RESULTS The sketch of the low inflation 115(4) Anomalies in income policies 119(6) Macro-stabilization -- an IMF project 125(12) ``We agree, but go our own way'' 125(3) Recipes for an economic drop 128(2) A timely change 130(2) The key -- small doses 132(5) Arrears -- more dangerous than inflation 137(11) ``Financial blockage'' diversion 138(2) Contamination of private persons 140(1) The Gordian knot of the exploitation losses 141(7) ``Debts equity swap'' -- a worth trying scheme 148(11) Restructuring -- a reform Cinderella 159(2) Demolition and reconstruction at the same time 152(1) No priorities, no choices 153(2) Liquidations -- where and why? 155(3) From ideological to economic reasons 158(3) Amortizations and reform 161(4) State companies: Who is their owner? Who makes decisions? Who manages them? 165(6) Owner-State -- a harmful uncertainty 166(2) The hide-and-seek game of bankruptcy 168(3) The only results: in mining 171(4) Failure in the oil refineries sector 175(2) In utilities: change of labels 177(6) Market behavior or a government instrument? 178(2) ``De-monopolization'' is a must! 180(3) The sketch of ``restructuring without money'' 183(2) A ``nonstructural'' unemployment 185(2) Anti-economy in the power sector 187(4) Privatization without buyers or an absurd theatre 191(10) Legal and institutional confusions 191(2) Mishmash of FIS's 193(2) Privatization of profits and nationalization of losses 195(1) The cost of the delaying tactics 196(2) Price limits are very low 198(3) Agriculture -- neither fish nor flesh 201(14) Hesitating and partial reconstitution of private property 201(1) A natural-type economy 202(1) The failure of the National Peasant Party 203(1) Was State agriculture good? 204(1) Is food security a forgotten goal? 205(2) About food imports 207(1) A tragic inefficiency 208(2) ``Wheat crisis'' diversion 210(1) Subsidizing is economically impossible 210(1) Supporting performance 211(2) Prices and underpayment of workforce in agriculture 213(1) The problem of the Romanian agriculture is the Romanian industry 214(1) Poor or reach budget? 215(16) A permanent aggression 216(2) Dodgers and goofy good payers 218(2) The prohibitive cost of the workplace 220(2) Excises on gasoline to reduce wage taxes 222(2) Discrediting the necessary taxation 224(1) Health insurance -- a step forward 225(2) A new budgetary philosophy 227(1) The need of a small budgetary deficit 228(3) Who is responsible for the Romanian capital being out of game? 231(16) Bancorex -- the emblem of the post-December history 232(4) The shame called AVBA 236(1) The only solution: to attract well-known western banks 237(3) The serious responsibilities of the National Bank 240(1) Well groomed with population's money 241(3) The victory of the Romanian thefts over the Romanian banks 244(3) What is the use of a capital market in Romania? 247(8) Stock exchange cannot be better than bad economy 247(4) Where was the Romanian State? 251(4) The disastrous pension scheme 255(6) Bankrupt social services 261(12) Exports and moderate payment capacity 273(1) The competitiveness deficit 273(6) Current account: the sword of Damocles 279(10) Financing trade deficit 279(4) 1999 Explosion 283(1) What has IMF actually aimed at? 284(5) Is the Monetary Council a solution for Romania? 289(2) ``Externalization'' vs. ``internalization'' of economic problems 291(10) Nastase ``reversal'' 292(3) Not credits, but investments! 295(1) The ping-pong of facilities 296(3) Direct foreign investments -- need for a ``critical mass'' 299(2) Romania -- West: 2nd run-off 301(4) September 11 and the NATO extension 305(2) Integration into the European Union: a pure political decision! 307(6) Lagging behind other candidate-countries 307(3) The rent belongs to the European Union 310(3) The integration process instead of the absent Strategy 313(8) There is a way now 313(1) Will the Strategy change Romania? 314(4) Towards everything means towards nothing 318(2) Neither less nor more, but better 320(1) Between ``colonization'' and ``dictatorship'' 321