Flashcards in Romania (Inequalites In The EU) Deck (11):
What happened in the 1970s?
Borrowed heavily from the west to build industry base
What happened in 1989?
Paid off all debt(£10.5bn) by:
•stopping vital imports
•food and fuel was restricted
•govt. exported everything it could
What did the events of 1989 mean?
A ruined economy
What happened Christmas Day 1989?
What happened in 2007?
Became EU member
When did Romania become an EU member?
What happened in the 1990s?
What did the 1990s lead to?
Lowest GDP per Capita in the EU
What affected population and economic growth?
Poor health and education
What did the IMF have to do?
Give $27billion in aid