Romanian President Asked Parties To Continue Talks On PM Nomination Until Tomorrow

Basescu said the parties must show „responsibility” and continue talks in order to find „the optimal solution.” In the President’s opinion, the economic consequences of the former Cabinet’s removal are more important than the political crisis and that attempting to solve one without the prospect of a solution for the other is „a grave error.”

Romanian Prime Minister Emil Boc’s minority government lost a confidence vote in Parliament Tuesday, less than two months ahead of presidential elections, raising doubts over the country’s ability to meet conditions set under an IMF-led EUR19.5 billion bailout loan agreement.

Romania and the International Monetary Fund signed in spring a two-year standby loan agreement for EUR12.95 billion, as part of a larger financial aid amounting to EUR19.95 billion. The EU, World Bank and the European Bank of Reconstruction and Development also chipped in to help the eastern European country cushion the effects of the recession.