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Solutions
The most liberal economies of the world, the American and the British ones, nationalized numerous financial institutions under the pretence of saving the small business, but in fact covering the huge losses provoked by leaderships of those institutions. We consider that the state should not be merely the fireman on duty, and the losses should not be supported by the wider society. We ask ourselves the following question: can a financial crisis be replaced with a moral one? Is it all right for those responsible for hundred billions of dollars detriments to retire unhindered with hefty allowances and for the population to suffer the costs?
Solutions
Obamas plan to stimulate the economy sums up to 825 billion dollars, split into two equal installments, in 2009 and 2010. Here are a few of the points on the Obamas plan: every American who earns below 200000 dollars a year will benefit a tax cut of 500 dollars and per family the cut will rise up to 1000 dollars; other tax cuts estimated to 275 billion dollars are expected to stimulate consumption, which generates two thirds of the GDP; 119 billion dollars will be directed to the 50 states of America, especially for health care and administration; the most affected social groups - unemployment, social security will be allotted 106 billion dollars; 90 billion dollars will be invested in infrastructure, 54 billion in energy sector and 16 billion dollars will be distributed for research (Mu, Buneci, Gheorghe, 2009, p. 158).
Solutions
In Great Britain, the government decides the states intervention in the banks Northern Rock and Bradford Bingley and injects EUR 44.8 billion in saving, through nationalization, the banks Royal Bank of Scotland, Halifax Bank of Scotland and Lloyd TSB. Therefore, the generalised bankruptcy of the British banking system could be avoided. Gordon Brown develops a relaunch plan of EUR 24.2 billion, that is, % of the GDP, having as a main element cutting the VAT from 17.5% to 15%. (Mu, 2009, pp 161-162).
Solutions
On January 12, 2009, the German government announced the guidelines of its economic relaunch plan, worth EUR 31 billion, on a two-year period and continuing another previous program of EUR 31 billion, adopted at the end of 2008: - investments in infrastructure of EUR 18 billion, - the decrease of the tax per salary from 15% to 14%, - the absolute reduction of contributions to insurances and division of the sum between employer and employees. - a germanised version of the scrap car program, with each buyer getting EUR 2,500 on buying a new car and scrapping another, which was more than nine years old. - each child gets 100 euros, payable once. Therefore, the German government fights the crisis with a program worth EUR 81 billion, which represents 3.2% of the GDP forecasts for 2009-2010. (Mu, 2009, p171) .
Solutions
In France, Sarcozys plan focuses on the public state investments, with EUR 10.5 billion and of the companies with state capital and local communities, with EUR 11.4 billion, with a total cost of the crisis reaching EUR 26 billion. The structure of the program of measures in December 2008 included: - a program for building 70,000 additional residential units, - EUR 4bn for equipment and infrastructure in public investments, - doubling the number of loans with 0 interest, - exoneration of employers taxes on hiring employees, - EUR 1,000 premium for an old scrapped car, - EUR 300m fund, destined to reorganising the automobile industry.
Solutions
Moreover, Nicolas Sarcozy resumes the crusade for an enterprisers capitalism and against an enterprisers monopole. Heads of state in France, Germany, England and Italy have made five historic decisions, and these are: - all banks will be supported, and each state is going to adapt to its own situation, - managers who are responsible will be sanctioned, with reference to the presidents of the banks going through difficult situations, who will be invited to resign, - states can break the European limits, as far as the public deficit is concerned (The European Commision will allow the states direct intervention in order to support enterprises), - all financial market players will be checked up (listing agencies, investment funds and banks will be the object of thorough checkups in order to avoid side-slips, - appeal for restructuring world finances by organising a summit G-20. (Mu, 2009, p 164-167).
Solutions
Here area few of the austerity measures taken by some of the member states of the EU the example of the Poland: the cut of the expenses for goods and services; the Czech Republic: dismissals from the budgetary sector; Hungary: the cut of the bonuses for the budgetary sector; the freezing of the salaries in the budgetary sector, of pensions and other social benefits; the cut of subventions for heating and lodging; the cut of the allowances for families, for children, sickness and maternity leave and the rise of the VAT (Voinea, 2009, pp. 155-156).
Conclusions
In order that Romania should overcome the crisis we propose the following solution: Extending the Scrap car program for tractors and farming machines; Reduction of the flat tax from 16% to 14%; Non-taxation of reinvested profit; Reduction of the number of ministries to 7 and of the governmental agencies by 60%; Introduction of the fast amortization system for all productive investments; Cutting budget expenses on public acquisitions; The cost of the mobile telephony conversations should be paid by the holder, regardless of the position; Reduction by 5% for taxes paid in due time; VAT payment on collecting the invoice money; Helping young people by reducing tax per salary by 10% on hiring
Conclusions
Setting up a wholesale market network to take delivery of fruits and vegetables; The unblocking of the armament industry; Taxing 30% in units serving fast food products; Institutional support for promoting Romanian products for export on other markets than the EU (China,India,Brasil, Russia); Shift towards non-polluting energies (solar and wind power); Stimulating privatization in fields such as education, health, research; Decrease of bank interests in order to facilitate crediting; Encouraging purchase of domestic products made in Romania; Price cuts for food products made in the country from domestic resources; Obliging local authorities, through law, to make investments, firstly in priority fields (water supply, treatment of used waters, sewage, transport, health, education); Reduction of the tax per dividends to 5%.
Conclusions
Apart from these measures mentioned above, there have to be added some strong measures to eradicate corruption through: - attributing state orders through a transparent auction system; - orienting the state budget towards transparent public policy priorities, in the contributors interest and not for the politicians clientele; - depoliticization o control bodies at all levels; - complete eradication of pressures from political factors over economic agents, especially for collecting funds for political parties; - real independence of justice, finalization of corruption cases and drastic sanction of the corrupted; - directing funds from EU and WB on rational grounds and not on political grounds to local communities; - adopting a legislative framework based on EU requirements and strict observance of the juridical regulations regarding: conflicts of interests, publishing dignitaries wealth, financiering political parties; - for the institutions financed by the state there should be provided for the possibility to transfer the surplus from a fiscal year to another, in order not to get to the situation where, on closing the fiscal year, the sums should be spent by all means or destination, to avoid the reduction of the allocated budget in the next fiscal year.