Parliament, where those in power have a comfortable majority, isruling today on the austerity measure programme proposed by theGovernment of Emil Boc. If the motion of censure filed by theOpposition is denied, the state budget will see 2.2 billion-eurosavings.
If the motion is denied, which will most likely happen, there isonly one step left before the enforcement of the 25% cut of publicsector salaries and the 15% pension cut: a challenge filed with theConstitutional Court, on which the Opposition MPs, the budgetsector employees and pensioners are pinning all their hopes.
Both PSD (Social Democratic Party) and PNL (National Liberal Party)have announced they will file a challenge with the ConstitutionalCourt of Romania. Their actions could delay the enforcement of thelaws even further, because the judges of the Court do no have adeadline for delivering their ruling.
After the measures have been enforced, the International MonetaryFund's Board will discuss the release of a new 850 million-eurotranche of Romania's loan, which should go into NBR'sreserves.
The austerity measures announced by President Traian Basescu at thebeginning of May are the harshest measure taken to reform statespending in twenty years.
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