Victor Ponta

Ukraine crisis significant for Chinese investment in Europe

Ukraine crisis significant for Chinese investment in Europe

Beijing has made clear that it wants to retain good relations with the new, pro-Western coalition government in Kiev.

(From left) BiH Prime Minister Vjekoslav Bevanda, Chinese Premier Li Keqiang and Romanian Prime Minister Victor Ponta pose for a photo at a November summit in Bucharest. [AFP]

IMF Grants New Loan to Romania, New Government Sworn In

Romania and the International Monetary Fund (IMF) have agreed on a USD 4 B loan to Bucharest.

The credit package deal was struck after President Traian Basescu gave his approval, as Bulgarian website Investor.bg reports.

Basescu has long resisted the agreement as it forces Romania to impose an excise tax for fuels at EUR 0.07 per liter.

Liberals Close to Quitting Romania Coalition

Romania's centre-left coalition looked close to splitting up after Klaus Johanis, a leader of National Liberal Party, PNL, on Monday said he was “not very optimistic that the coalition will survive tomorrow.

“We failed to find a solution to the proposed cabinet changes. As a result, our party will decide on Tuesday if our ministers will leave the government or not,” he added.

Party Dispute Threatens Romania Coalition

Prime Minister Victor Ponta on Wednesday took over the role of interim Finance Minister while another member of his ruling Social Democrat Party, PSD, will temporarily head the economy portofolio.

The moves are the latest in a weeks-long feud among Romania’s ruling coalition members, which escalated after the parties failed to agree on cabinet changes.

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