Romanian PM nominee set for confidence vote defeat
By Luiza Ilie
BUCHAREST (Reuters) - Romania's opposition prepared to reject prime minister designate Lucian Croitoru and his proposed cabinet on Wednesday and extend a political crisis that has put a 20 billion euro IMF-led rescue package at risk.
But the largest opposition party, the Social Democrats, said they would support the quick approval of a 2010 budget, which would let Bucharest meet the IMF's most pressing demand and help it keep its aid deal afloat.
Since the collapse of the centrist cabinet last month, political forces have jockeyed for position before an expected Dec. 6 presidential runoff vote, complicating budget talks and endangering the aid's disbursement.
The powerful opposition, controlling two thirds of parliament, has made clear it will reject Croitoru, a nominee of centrist President Traian Basescu, in Wednesday's confidence vote. Instead, they back provincial mayor Klaus Johannis.
"We will all vote against the proposed lineup and against Croitoru," said Social Democrat vice-president Victor Ponta.
Analysts say if the chamber rejects Croitoru, Basescu will have to nominate a new candidate who would struggle to create a cabinet before a first round presidential vote on Nov. 22.
There is great concern the Balkan country of 22 million may run out of time to meet the terms for its next tranche of aid.
Croitoru, a policy adviser to the central bank governor, was a member of the Romanian team that negotiated the IMF/European Union/World Bank aid package. Continued...
Dubai Debt Fears
Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets. Full Article | Slideshow










