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Mitroi, about Brexit: the public money will be fewer and will have to be spent more wisely in Romania
Romania will have a more ‘ tight’ financing of the deficit, and the public money will need to be spend more wisely, following the vote in the UK considers Adrian Mitroi, professor at the Academy of Economic Studies (ASE).
‘The market is capable of absorbing these shocks and these shocks are not crisis, they are normal things, a weaker pound, a weaker euro, a stronger dollar which compensates for a cheaper oil, a slightly depreciated leu, but not too much, a tighter financing of the deficit, so budgetary expenditure and fewer privileges, a better care for the prioritisation of the public investments, the deficit of private investments will continue, so the public money will be fewer and will have to be spend wisely’ Mitroi said.
He considers that the vote in the UK is not rational and is against migration.
‘I am profoundly disappointed. It is clearly a non-rational and anti-migration vote which does not see beyond the present moment. (…). Already the world has started to calm down. This decision is part of a tough reality of the world where we live and it is a reality which places less importance on the long term economic interest and more importance on the leadership values and political decisions’ said the ASE professor.
He considers that the EU must start negotiations with Russia and Turkey.
‘The effect will be calmed down in a way or another. I don’t see a renegotiation with them (the UK). We will lose time, two years, to adjust the exit. I think that the EU should be smart enough to start negotiations with Russia and Turkey. They are two strong partners who we should keep close. (…).The European leaders will be obliged to understand this context, to accelerate the relation with the two partners whom I see as capable of having a more balanced relation’ Mitroi said.