“People should know that accessing a credit means a debit is created instead, because they seem to think that debt is a God-given. In a country that suffered as much as we did during the 80s, debt is more like a boogeyman,” Isarescu said.
Isarescu said EUR20 billion out of Romania’s foreign debt represents public debt, while companies account for another chunk of EUR30 billion.
The population is similarly responsible for the foreign debt, he added.
“The solution is to have a manageable debt,” Isarescu concluded.