President survives impeachment vote
President Traian Băsescu has survived the impeachment referendum which took place on Sunday because insufficient voters turned out to vote.
A minimum of 50% plus one had to turn out for the vote in the referendum to be validated and in the end only 46.23 of the 18,288,757 registered voters bothered to turnout.
The Central Electoral Bureau (BEC) issued a final communique yesterday afternoon with all but four of the 18,548 polling centres having sent in their results.
Of those that did vote, 87.52% voted in favour of impeaching the president whilst 11.15% voted against; 1.32% of the votes were declared null and void.
Prime Minister Victor Ponta said that he would recognise the result of the referendum although he called upon the president to resign saying that he had lost the moral authority to lead the nation. Ponta’s ruling party the Social Liberal Union (USL) will have been damaged by the costly referendum and some analysts are suggesting that the party may not now gain an overall majority in the general election on 30th November.
The local currency and markets rallied slightly on the news, having previously feared that the country might face a general election as well as a presidential election in November. The IMF has confirmed that it will now review the status of the country’s economy prior to confirming any additional support.