Romania’s PM-Designate Seeks Parliament Confidence Vote For New Govt To Unlock Bailout Money

Romania’s Prime Minister-designate Emil Boc seeks a confidence vote in Parliament Wednesday for his 15-minister cabinet, which needs to push through next year’s state budget and unlock further tranches of an IMF-led EUR20 billion loan the country relies on.

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All proposed ministers were endorsed by Parliament committees Tuesday but the fate of the proposed government will be decided by the Parliament in Wednesday's plenary session.

The government, made up of democrat liberals, members of the Hungarian minority party UDMR and independents, hold together 240 seats in Parliament. The Cabinet needs 236 votes in favor to be validated.

Romania has been without a legitimate government since Boc's previous Cabinet collapsed in a no-confidence vote in October, which prompted international financial institutions to withhold further disbursements of the EUR20 billion loan the country needs to fight the recession until a legitimate Cabinet is installed.

If Boc's proposed government fails to secure a confidence vote Wednesday, Romania's President Traian Basescu has the right to dissolve the legislature and trigger early elections. However, that move would leave the country without a government for a new few months and hinder its chances for economic recovery.

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