Worsening Ukrainian crisis holds economic risks for the region, Romanian president says

Romanian president Traian Basescu warned on May 4 that a possible civil war in Ukraine would spread instability across the region and that would come with economic costs, but he dismissed the prospect of a war in which Romania would be involved, amid speculation about a call-up order for reservists.

“I repeat, there is no risk Romania will be engaged in a war (…) But Romania can be strongly affected by a situation of instability generated by a civil war in Ukraine. And this instability would be manifested in the manner in which Romania could borrow from the external markets for its own needs. Let alone exports, imports and so forth. And the Russian Federation’s responsibility in creating such a situation following Crimea’s annexation is major,” Basescu said in a public statement.

He also warned that the recent unrest in Odessa, a city port just 150km from Romania’s borders, bear all the distinguishing marks of a civil war.

For the full story, please click here.

(Photo: European Council/flickr.com)