Financial Times: the economic crisis is associated with President Traian Basescu

Popular night clubs in North Bucharest are getting emptier and emptier after years of opulence symbolizing the extravagance of the boom years in Romania, Financial Times reads in an article entitled Bucharest battles against the crisis.

The article reads that the end of the economic boom comes in bad time for the man associated with it, namely Romania’s President, Traian Basescu which will probably run for another mandate in November.

Impulsive and conflictual, Basescu won his popularity on both the internal and external plan with his anti-corruption speech. However, next to the political class, he lost his credibility after he insisted that Romania will not be affected by the crisis and will not need the IMF money.

Basescu nonetheless, remains the favorite candidate for these upcoming Presidential elections but many leaders in the business sector express their hope for a less impulsive leader that will bring about stability.