Limun.hr - Romanian leu soars after President Basescu survives impeachment vote

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Romanian leu soars after President Basescu survives impeachment vote

30.7.2012 16:18:00 | Author/Source www.seenews.com

The Romanian leu closed much stronger on Monday after Romania’s suspended president Traian Basescu survived an attempt by the governing coalition to remove him from office, dealers said.

Voter turnout below the required minimum of 50% on Sunday killed the referendum on the impeachment of Basescu accused by the government of alleged abuse of power. The outcome of the vote is expected to dispel part of the political uncertainty which preceded the referendum and made the International Monetary Fund, the European Commission and the World Bank delay their sixth review of their current funding arrangement for Romania.

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