President Traian Basescu, at the beginning of the consultations with the ruling coalition parties, said the political game in Romania and the country's failure to meet all the requirements set in the financial agreement with the International Monetary Fund risk plunging Romania into slippage.

'I hope the alternative solution I proposed the leftist parties, the opposition parties should generate response and that they come to the consultations at 5 p.m., given that because of the political game we risk missing (the targets - editor's note), we risk plunging the country into slippage, if we do not manage to pass the laws that have been set as requirements for the release of the fourth tranche we are to get in January', president Basescu said.

'The IMF Board of Directors meets on January 7 and failure to meet all the requirements means a lack of credibility for Romania and I think these talks should first and foremost focus on the year 2011 as a possible successful year and also as the year of the possible failure to meet the requirements set in the agreement with the IMF and EU', Basescu added.

He warned that nobody will tolerate Romania to enter a ‘grey area' from the viewpoint of its capability of meeting the commitments made.