Global effects of the financial crisis. New challenges for the sustainable development in Romania

It became clear, sometimes in a dramatic way that the world is going through the most difficult economic and financial crisis in history, which may affect its long-term stability. Because of multiple interferences in the context of the globalization of markets, the financial crisis triggered in the United States has spread to other countries, its reverberations in the real economy resulting in a downturn in the global economy. The study pays a special attention to the impact of the crisis on Romania, which is affected by the decline of the economy. Thus sustainable development of Romania will confront new challenges arisen both from the international financial crisis and the internal structural changes inherent in the transition and the European integration.