The cabinet of Romanian Prime Minister Mihai Tudose survived a non-confidence vote on November 23, as the motion submitted by the opposition National Liberal Party (PNL) was backed by only 159 MPs compared to 233 needed to overthrow the government.
This came as no surprise, given the robust support enjoyed in parliament by the ruling coalition.
The PNL asked in its motion for the dismissal of the government and the cancellation of a series of highly controversial amendments to the Fiscal Code.
The resolution was backed by the Popular Party led by former president Traian Basescu and Save Romania Union (USR).
Notably, the ruling coalition instructed its MPs to not attend the vote, a procedure typically used for preventing tensions within parties from surfacing during the voting process.
At this moment, a faction of the ruling Social Democratic Party (PSD) led by former prime minister Victor Ponta is challenging the authority of the party leader Liviu Dragnea, and indirectly the government backed by Dragnea and headed by Tudose. These internal tensions are a greater threat to Tudose’s position than the opposition, who have not seriously challenged the ruling coalition during its first year in office.
The European Commission has approved Romania’s planned €200mn capital increase for state-owned CEC Bank, allowing the country to proceed with strengthening the lender’s financial position, ... more
Addiko Bank, an Austrian financial institution specialising in the consumer and SME sector operating in Central and South-Eastern Europe (CSE), is preparing to launch operations in Romania with the ... more
Moldova’s Maib bank, which plans to list its shares on the Bucharest Exchange (BVB), has reported an excellent third quarter, with net profit rising by 11% year on year to MDL1.1bn ... more