Romanian Government Fails No-confidence Vote

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With the country seeing a massive surge of the COVID-19 pandemic and having to deal with a tenuous international credit rating, now Romania’s government has failed to pass through a no-confidence vote today, 5 October.

Romanian prime minister Florin Citu and his minority-led coalition had only been in power for 9 months, but his Liberal Party’s falling out with its main coalition partner led to political tensions and a stalemate. For his part, Citu said he was leaving all options on the table.

Later today, Romania’s president, Klaus Iohannis, is expected to nominate a new prime minister, but has several potential courses of action he could take, including appointing a caretaker government.

In a separate-yet-related matter, today Romania’s currency, the leu, rebounded after the country’s central bank raised interest rates to curb inflation.

Source: Bloomberg