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First Post
21-06-2025
- Business
- First Post
Romania finally gets a prime minister, budget crisis PM Bolojan's first test
Romania's President Nicusor Dan nominated Ilie Bolojan, leader of the National Liberal Party, after weeks of coalition talks. Now, the biggest challenge in the new government's hands will be tackling the budget crisis read more Romania's new pro-Western president, Nicusor Dan, on Friday nominated Ilie Bolojan, leader of the pro-European National Liberal Party (PNL), as the country's next prime minister. AP Romania's new pro-Western President, Nicusor Dan , nominated Ilie Bolojan, leader of the pro-European National Liberal Party (PNL), as the country's next prime minister. The move was announced on Friday, marking an end to the weeks of political uncertainty following the annulled December presidential elections. The 56-year-old centre-right leader was serving the role of Senate president and is known for his reformist approach and administrative discipline. It is pertinent to note that Bolojan had previously served as acting president from February to May, when Dan defeated a hard-right opponent in a heated presidential election rerun . STORY CONTINUES BELOW THIS AD The nomination came as Romania, a European Union and NATO member state, is seeking to end a protracted political crisis that has gripped the nation since last year. Bolojan was nominated following a fresh round of talks between Dan and PNL. The biggest challenge facing Bolojan now will be taking care of the budget crisis in the country. The budget crisis: Bolojan's biggest challenge The 56-year-old leader will be tasked with tackling Romania's dire finances and reconciling the divided EU member. The country's budget deficit stood at 9.3 per cent at the end of last year, making it the highest in the European Union, AFP reported. In a press conference last week, Bolojan said Romania was 'in a complicated situation', adding that the incoming government would have to resort to 'unpopular measures' that could include cutting public spending and imposing tax rises. Meanwhile, Political scientist Sergiu Miscoiu told AFP that Bolojan was 'the person best placed to take unpopular measures to tackle the serious budget crisis'. However, analysts also point out that apart from a brief time as interim president, he had 'no experience in national politics'. Apart from this, deep social divisions in the nation were also made clear by the controversies that surrounded the presidential election. According to Cristian Andrei, a Bucharest-based political consultant, the new government will face the challenge of reaching a longer-term consensus over already delayed state reforms. 'There is only a disputed agreement on very short-term measures for the economic and budget crisis,' the political consultant told The Associated Press. 'If the short-term measures come with a social cost, inflation … (and) will not be met by profound changes in policies and institutions, then the political crisis will loom over the next years and (future) elections," he furthered. STORY CONTINUES BELOW THIS AD What comes next Bolojan's nomination will now need to be approved by the country's parliament. According to Euro News, his government is expected to be comprised of the leftist Social Democratic Party, or PSD, the PNL, the reformist Save Romania Union party, and the small ethnic Hungarian UDMR party. Ahead of his nomination, the PSD has pushed for a power-sharing agreement that would see a rotation of the prime ministerial post. While speaking after being nominated for the prime ministerial position, Bolojan said he's 'fully aware of the great responsibility' the role will bring and acknowledged it 'will not be an easy undertaking.' 'I will pursue three priorities: to restore order to the country's finances, to work toward good governance that creates conditions for development in Romania, and … to show proper respect to the Romanian people," he furthered. While the far-right parties recently won a third of the parliament seats, they were kept out of the talks to form a new government. Defeated presidential candidate labelled the move as 'a disgrace and an insult'. Meanwhile, the European Union has voiced concerns over the rise of Eurosceptic parties in NATO member Romania that are opposed to sending military aid to Ukraine. STORY CONTINUES BELOW THIS AD With inputs from agencies.
Time of India
20-06-2025
- Business
- Time of India
Ilie Bolojan named Romania's new Prime Minister amid political turmoil and budget crisis
Nicusor Dan (Photo: AP) Romanian President Nicusor Dan on Friday nominated Ilie Bolojan, leader of the pro-European National Liberal Party (PNL), as the country's next prime minister, ending weeks of political uncertainty following the annulled December presidential elections. Bolojan, 56, currently Senate president, is known for his reformist credentials and administrative discipline. His appointment comes at a critical moment, with Romania facing a record-high budget deficit of 9.3% and lingering fears over foreign interference in its democratic institutions. 'Ilie Bolojan is best suited to make the necessary adjustments in the Romanian state apparatus,' President Dan said in a televised address. Dan himself was elected in a May rerun, after the December vote was annulled amid allegations of Russian meddling. The nomination must now be approved by parliament, which remains fragmented. Bolojan is expected to navigate a divided legislature while pursuing difficult economic reforms. In a press conference last week, Bolojan acknowledged the challenges ahead. 'Romania is in a complicated situation. The new government will need to implement unpopular measures — including possible spending cuts and tax hikes.'
Miami Herald
19-06-2025
- Business
- Miami Herald
Romania nears deal to form government after weeks of deadlock
BUCHAREST, Romania - Romania's pro-European parties closed in on an agreement to form a government as leaders set out to rein in a budget deficit that's become the widest in the European Union. The National Liberal Party put forward its leader, Ilie Bolojan, to be prime minister. The long-dominant Social Democrats, which declined to designate a candidate, said a coalition accord between the main parties and two smaller partners is likely as negotiators put the final touches on a deal. "It's hard to say at this moment that we're at a 100% probability for a four-party ruling coalition, but I think we're at about 80-90%," Sorin Grindeanu, the Social Democrats' interim leader, told reporters in Bucharest. President Nicusor Dan, a centrist who beat back a far-right challenge to win the country's highest office last month, is expected to nominate a prime minister on Friday, according to people familiar with the plans who asked not to be identified as talks take place behind closed doors. Once designated, the premier will have 10 days to form a Cabinet and seek a vote of confidence in parliament. Romania was plunged into its gravest political crisis since the fall of communism late last year with the shock victory of an ultranationalist outsider in a presidential vote, which was subsequently annulled and rescheduled for May. Dan's victory signaled that voters want to hew to the nation's pro-European path amid growing geopolitical turmoil. Dan has made clear that the government's top priority must be to scale back the budget deficit. The parties are seeking to overcome deep differences over how to address a fiscal gap that accounted for about 9% of economic output last year. But the budget remedy, including impending spending cuts and tax increases, is likely to carry political risks - and be exploited by a surging far right. George Simion, who leads the ultranationalist Alliance for the Union of Romanians, scored a decisive first-round victory in the presidential contest on May 4, prompting the resignation of then-Prime Minister Marcel Ciolacu. But he went down to defeat two weeks later. Romanian assets have rebounded since Dan's victory, with the yield on the country's 10-year domestic bonds falling by about a percentage point from over a two-year high last month. The yield now trades at 7.4%, the lowest level since April - but still the steepest borrowing costs in the E.U. The four pro-European parties control 60% of the seats in parliament. The Social Democrats, who won an election in December and have the largest number of lawmakers in the chamber, will join the Liberals, the anti-corruption Save Romania Union and a party representing ethnic Hungarians. Grindeanu said the Social Democrats will deliberate on whether to join the coalition on Friday, expressing optimism that members will sign off. The party had raised the prospect of supporting a minority Liberal-led government without joining the coalition, but opted for a broader agreement. Romania, a member of the E.U. as well as NATO, has pledged to lay out a detailed plan to narrow the deficit to the European Commission by the end of this month. The E.U.'s executive arm has so far refrained from suspending E.U. funds, despite Romania's status under a so-called excessive deficit procedure. It instead called on Bucharest to adopt urgent measures. ---------- -With assistance from Peter Laca. Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Bloomberg
19-06-2025
- Business
- Bloomberg
Romania Nears Deal to Form Government After Weeks of Deadlock
Romania's pro-European parties closed in on an agreement to form a government as leaders set out to rein in a budget deficit that's become the widest in the European Union. The National Liberal Party put forward its leader, Ilie Bolojan, to be prime minister. The long-dominant Social Democrats, which declined to designate a candidate, said a coalition accord between the main parties and two smaller partners is likely as negotiators put the final touches on a deal.
Yahoo
13-05-2025
- Politics
- Yahoo
Romania heads to historic presidential runoff as populist and pro-EU candidate are neck-and-neck
Days before the Romanian presidential election runoff, the two presidential hopefuls are neck-and-neck. According to the latest poll by AtlasIntel, far-right George Simion and liberal pro-EU Bucharest Mayor Nicusor Dan are tied at 48.2%. Yet, another poll by CURS gives Simion 52% and Dan 48%. Both are running on an anti-establishment platform in a country seeking change. Yet, with two drastically different views on the country's future, whoever takes the presidency will have the chance to change Romania for years to come. After Russian-friendly nationalist Simion, leader of the Alliance for the Union of Romanians (AUR), took the first round by storm with 41% of the votes on May 5, the government coalition formed by the mainstream National Liberal Party, the Social Democrat Party and the Hungarian minority UDMR — whose common candidate Crin Antonescu came third with 20% of the vote — dismantled. The national currency, the leu, fell to a historic low when compared to the euro and dollar, despite the Romanian Central Bank's billion-euro effort to stabilize the national currency. Scoring a mere 21% of the votes, Dan's chances to win the presidency seemed dim without an incredibly high mass mobilization of the electorate. The first opinion poll made by Verified and published by Dan after the first round showed Simion winning with almost 55% of the votes in the runoff. The poll excluded Romania's diaspora, which is backing Simion. There has also been a tendency for Simion voters to refuse to participate in polls. Running as an independent and relying on private donations, Dan has gained the support of the liberal Save Romania Union (USR), the party he founded in 2016 but left next year over the question of LGBTQ+ rights. Dan was opposed to giving same-sex partnerships the same rights as those of heterosexual couples. For the runoff, Dan has also garnered the support of the National Liberal Party and the Hungarian minority party UDMR. The Social Democratic Party, Romania's biggest political party, officially abstained from endorsing a candidate. Antonescu, who came third, dismissed both candidates. "There is no precedent for this runoff," political scientist Claudiu Craciun told the Kyiv Independent. "In 2004, 2009, and 2014, we had candidates who took 40% of the votes in the first round of presidential elections, and then they lost in the runoff. But they were center-left candidates defeated by center-right candidates, from the two major parties representing those ideological positions. Now, historical parties are in decline, for the second time in a row, they cannot bring candidates into the runoff, which means that this is a systemic issue," Craciun added. "We have a new situation, with the candidates of two smaller parties, USR, on the relatively progressive neoliberal center, and AUR, on the ultra-conservative side. We can anticipate that towns and cities, wealthier, more educated people will vote for Dan, but it's not clear how religious groups will vote, or how social democrats will be split," he added. In the first televised debate between Simion and Dan, which lasted over four hours on May 8, national security and Russia's war against Ukraine were major topics. The relationship with Moldova, the cost of living crisis, the public health sector and foreign investment were also widely discussed. "In the debate, Nicusor Dan showed a different facet, which took Simion by surprise: he was much more combative and managed to project the image of a leader more powerfully," journalist Ioana Dogioiu told the Kyiv Independent. "He was resilient and spontaneous — things that people said he'd lacked before. He managed to stick the financial crisis to Simion, to say that the chaos he created scared investors, and to show Simion's duplicity by confronting him on his contradictory claims, which generate uncertainty and mistrust. But I'm not sure this is enough to create (additional) 3.5 million votes, which is how much Dan needs in order to win," Dogioiu added. Simion, who is the executive vice president of the European Conservatives and Reformists Party, tried to appear more moderate and calm, repeatedly invoking the example of Italian Prime Minister Georgia Meloni, while also tying himself to the Trump administration. Read also: Narrowly overcoming pro-Russian comeback, Moldovan President Sandu is facing tough term ahead In the debate, while Dan pleaded for further support of Ukraine, Simion, who is persona non grata in both Ukraine and Moldova, emulated banned Russian-linked Calin Georgescu, saying that Romania has to stay "neutral" and only spend money on itself rather than give military aid to its neighbor. Dogioiu says Simion's position on the war may garner some support, fueling old tensions between Romania and Ukraine, concerning Romanian minority rights. It can also give a voice to the frustrations with the market disruption caused by cheap Ukrainian grains passing through Romania since the start of Russia's full-scale invasion. But according to political scientist Cristian Preda, post-communist Romania has never had candidates openly supported by Russia until Georgescu and Simion. On election day, Kremlin ideologist Alexandr Dugin said that Simion's success "is Georgescu's win" and "a chance" for Russia. "If Simion wins, we may get the old, radical, extremist, anti-media Simion, or the new, runoff Simion, who is more pro-European, more moderate." "Romanians have mobilized before for smaller bets," Preda told the Kyiv Independent. "It wouldn't be bad for Ukraine and Moldova to provide more details about why Simion was made persona non grata now. This would clarify the situation even better. How do you elect a president who can't enter two such important neighboring countries?" Further on, Preda argues that Simion is perceived as a candidate who will "prolong the electoral dispute" after Romanians have been exhausted from voting in five different elections — parliamentary, local, European, and two sets of presidential ones. "Simion says he would organize a referendum to sack the members of the Constitutional Court who canceled the Nov. 24 presidential elections (citing malicious foreign influence), and organize snap elections," Preda said. "We've never had snap elections. This gives a sense of instability." "If Simion wins, we may get the old, radical, extremist, anti-media Simion, or the new, runoff Simion, who is more pro-European, more moderate. Let's say he goes through a 'Melonization' process," Dogioiu said. "It will take time to convince international markets that he is not a radical; will his party, AUR, also go through a 'Melonization' process? Even in the best-case scenario, it will take time to gain the trust of the markets," she added. "He is trying to appeal to both radicalized Georgescu voters and to the more moderate electorate, which creates uncertainty but not panic." In addition to the financial crisis and the potential loss of EU funds, a Simion victory would isolate Romania, Craciun said. "He will play in the Fico-Orban field, building a pressure group within the EU. It's enough for him to delay initiatives, such as military aid to Ukraine, to become a malign actor." Read also: Despite Russian-backed Georgescu barred from presidential race, Romania's far-right still aim to win We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
