President Traian Băsescu's call for a moratorium of theparliamentary parties for 30 to 45 days so that the laws agreedwith the International Monetary Fund (2011 budget law, uniformsalary law and pension law) could be passed fell on deaf earsyesterday. Economic analysts believe the failure to pass these lawsuntil the end of the year would immediately result in a collapse ofRomania's credibility on financial markets - because it will all betreated as a breach of the agreement with the IMF, which will boostsovereign risk resulting in an increase in interest rates.
The Chamber of Deputies was frozen yesterday as it has been overthe last two months for that matter, and the Senate rejected themodification of the pension law that would have allowed women toretire earlier, at 63, as requested by the head of state, whichreveals that the ruling coalition (PDL, UDMR and UNPR) has lostcontrol of the upper house.
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