
Part Four: Nicolae Ceaușescu: The Dracula of Being A Dick
Behind the Bastards
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Romania's Debt Crisis
Romania had half a billion dollars worth of debt in 1978 and that had risen to 10.4 billion by 1982, equivalent to 28% of its GDP. In 1981, just the interest payments alone accounted for $3 billion. By 1982, Ceausescu was forced to cut spending and redirect foreign currency towards interest repayments. The Romanian economy suddenly found itself in deep trouble.
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