Importing the government of Ilie Boloyanni in Romania: Fear of Fiscal Crisis Grows

After a parliamentary debate Tuesday, 281 MPs voted in favour of the motion and four against. The initiative was launched last week when the leftist Social Democratic Party (PSD), which withdrew from the coalition in late April and the far-right opposition party Alliance for Romanian Unity submitted the motion to parliament. MPs from Boloyanni's centre-right National Liberal Party (PNL) and coalition partners, Romania's Union for Salvation party, small Hungarian minority party U n The DMR did not participate in the vote. Although early elections seem impossible, financial markets showed concern that this instability could mean Bucharest will waver in its commitment to narrowing its biggest budget deficit in the EU. Leu, Romania's currency, fell to a record low against the euro prior to Tuesday's vote. Ten months in power the government already came to power 10 months ago with the aim of curbing the right extreme's growth after a series of polarising elections and had begun to lower the deficit, narrowly avoiding a lower credit rating from the last level of the investment category. But Social Democrats, without whom no pro majority can be achieved - The EU has repeatedly clashed with Boloyanni, as its austerity measures have affected voters and their patrol networks, while their popular support has waned in favour of the extreme right. However, opinion polls suggest Ilie Bolojan is the most popular politician in the ruling coalition.