• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Editor's Pick

Romanian pro-European parties agree to quickly form broad coalition government

by December 11, 2024
written by December 11, 2024

BUCHAREST (Reuters) – Romania’s pro-European parties reached a firm commitment late on Monday to form a governing majority that cordons off the hard right and potentially endorses a single candidate for a re-run of the country’s annulled presidential election.

The ruling leftist Social Democrats won the most seats in a Dec. 1 parliamentary election which also saw three ultranationalist and hard-right groupings, some with overt pro-Russian sympathies, win over a third of seats.

The parliamentary ballot was sandwiched in between two rounds of a presidential election which saw far-right NATO-critic Calin Georgescu emerge from relative obscurity to become the shock frontrunner.

That prompted accusations of Russian meddling before the country’s top court annulled the presidential vote on Friday and said the entire process will need to be re-run.

The new government in the European Union and NATO state will need to come up with a new calendar for the presidential election, likely in the first part of 2025.

Outgoing President Klaus Iohannis, who will stay on until a new president is sworn in, will nominate a prime minister. The current legislative’s term ends on Dec. 21.

On Monday, the Social Democrats, their current coalition partners the centre-right Liberals, opposition centrist Save Romania Union and the ethnic Hungarian party agreed to quickly form a pro-European government.

“In the coming days, the four parties and representatives of national minorities will work on a common governing program based on development and reforms which will consider the priorities of Romanian citizens,” a joint statement said.

Analysts expect the four parties, which have often clashed on policy issues, will struggle to agree measures needed to lower the EU’s largest budget deficit at 8% of economic output.

Analysts, ratings agencies and Brussels have said tax hikes are needed, which will further erode the parties’ support.

The parties also said they were considering supporting a single pro-European candidate in the presidential election, to boost their chances of winning against a wave of support for ultranationalists.

It was unclear whether Georgescu would be allowed to run again, with prosecutors investigating his campaign.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Bank of England set to stay in central bank slow lane and keep rates on hold
next post
Thai cabinet approves measures to ease household debt

You may also like

China central bank conducts 1.7 trln yuan of...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

ECB president fears loss of central bank independence

January 27, 2025

European tech shares tumble as China’s AI push...

January 27, 2025

Futures slip as investors eye China’s latest AI...

January 27, 2025

Markets may be repeating the mistake of 2019,...

January 27, 2025

How billionaire Caltagirone could influence Italy’s banking M&A...

January 27, 2025

How Italy’s MPS went from near collapse to...

January 27, 2025

Analysis-To weather Trump, emerging market investors look to...

January 27, 2025

Chinese AI startup DeepSeek overtakes ChatGPT on Apple...

January 27, 2025
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!








    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • China outlines more controls on exports of rare earths and technology

      October 10, 2025
    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News

      October 7, 2025
    • YouTube to pay $24 million to settle Trump lawsuit

      October 1, 2025
    • Charlie Javice sentenced to 7 years in prison for fraudulent $175M sale of aid startup

      October 1, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (651)
    • Stock (6,426)

    Latest News

    • China outlines more controls on exports of rare earths and technology
    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News

    Popular News

    • Olympus says CEO steps down after allegations of illegal drug purchase
    • NY Fed survey shows big banks still expect spring stop to balance sheet drawdown

    About The Significant deals

    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy