Recent Posts

Romania, IMF Agree on 2010 Draft Budget

Romania and the International Monetary Fund, IMF, on Tuesday reached an agreement on a draft budget for 2010, one of the main sticking points for the further disbursement of IMF-led funds. Speaking after meeting Romanian interim Finance Minister Gheorghe Pogea, IMF representative Jeffrey Franks said the next challenge is to …

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Romania PM-designate quits to allow cabinet talks

Romanian prime minister-designate Liviu Negoita said on Wednesday he had stepped aside to allow parties to discuss forming a majority government following President Traian Basescu’s re-election earlier this month. Basescu, who is due to be confirmed by the Constitutional Court for a new five-year term as president on Wednesday, said …

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Bulgaria Urges Brussels to Speed up Eurozone Entry

Members of the European Parliament from Central and Eastern European states, including Bulgaria, have announced plans to plead in Brussels for the faster accession of their countries into the eurozone. Speeches to this effect will be made in the framework of the upcoming debate between the European Parliament and the …

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President of breakaway Abkhazia to visit Turkey

The newly re-elected president of Abkhazia, an unrecognized breakaway region of Georgia, Sergei Bagapsh will pay a visit to Turkey soon, citing the need to reach out to members of the Abkhaz diaspora currently living in the country. At a press conference following his landslide victory in the Abkhaz presidential …

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Bucharest: Romania shows interest in South Stream

Romania is ready to replace Bulgaria in the Russian-Italian gas pipeline project South Stream, a formal statement of Bucharest’s economy ministry reads. Romania’s only condition is that Gazprom sticks to the local regulations while constructing the facility. At the same time, Romania confirmed its participation in the Nabucco pipeline project, …

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