The Romanian Parliament on Wednesday endorsed a draft law on the organization of the referendum, after the bill passed in the Senate. The referendum on impeaching president Traian Basescu will be held on July 29, and will only be valid if over 50% of the registered voters show up at the polls. The referendum will run between 7 am and 11 pm. The pro-presidential Liberal Democratic Party has filed an appeal to the Constitutional Court against the four-hour extension of polling station opening hours. The Parliament also passed a law on the organization and functioning of the Constitutional Court. According to the law, the Constitutional Court can only have a say on those Parliament decisions that break constitutional norms and principles, except for those regarding the autonomy of the legislative body.

The European Commission has released the report on the Cooperation and Verification Mechanism for Romania and Bulgaria

Romania and Bulgaria have made progress as far as the reform of the judiciary and the fight against corruption are concerned, but the reforms are neither sustainable nor irreversible. This is the conclusion of a report made public on Wednesday by the European Commission, within the Cooperation and Verification Mechanism, five years after the two former communist countries' accession to the EU. Another report will be drawn up for Romania by year-end. The European Commission has warned that the independence of the judiciary and the separation of powers are the pillars of a democratic society. The report mentions the latest political developments in Romania.

The document highlights the political battle between PM Victor Ponta and suspended president Traian Basescu. The European Commission President Jose Manuel Barroso has stated that the recent political events in Romania have shaken the Commission’s trust in Romania, as the Government's commitment to observing the rule of law comes under question. According to interim president Crin Antonescu, Romania has to do more than pass exams in the field of justice, within the Cooperation and Verification Mechanism, but be more active in Brussels. Crin Antonescu:

For the Government, for the political class and for us all, that means we'll have to send to Brussels, as soon as possible, teams of experts able to come up with policies likely to be implemented in the European institutions.

Prime Minister Victor Ponta visits the Republic of Moldova

Romanian Prime Minister Victor Ponta met his counterpart Vlad Filat in Chisinau, to discuss bilateral cooperation and Bucharest's support for waiving visa requirements for Moldovan citizens. The two officials have announced that the Iasi-Ungheni gas pipeline, which will connect the two countries’ gas systems, will be operational by the end of 2013. The pipeline will carry 1.5 billion cubic meters on the Iasi-Ungheni route per year. Construction costs are estimated at 20 million euros, of which Romania will contribute 12 million. Moreover, Ponta and Filat have signed a cooperation protocol in the field of education for 2012-2015 as well as a plan of actions in the judicial field.

The Romanian Government discusses ways to boost the country's economy

The Romanian Government has considered a set of measures aimed at boosting the economy. These are to be discussed with a joint delegation of the IMF, the European Commission and the World Bank in Romania, on July 31st. Following negotiations, a decision will be taken on whether and when these measures are to be implemented. One measure is to have companies that hire unemployed people aged below 25 or over 55 for at least two years, exempted from the payment of social contributions for one year. Moreover, the Government is planning to introduce VAT payments upon cashing the bills, for companies with a turnover of maximum 500,000 euros, if payment is made through the bank.

Romania's national currency stays on a moderate upward trend

Romania's currency, the leu, continues to appreciate against the euro, after reaching a record low on Tuesday, when the National Bank of Romania announced an exchange rate of 4.5651 lei for 1 euro. The leu value has fallen sharply over the past two weeks, by an overall 2.5%, in spite of the National Bank's constant intervention to contain its depreciation.

Romanian authorities are on low-level alert following the bus bombing in Burgas

Romania’s Higher Defence Council has decided to maintain the code blue alert for terrorist threats and to further operative measures following Wednesday’s terrorist bomb attack in neighbouring Bulgaria, that killed six people and wounded 32. According to the Romanian Intelligence Service, there is no evidence so far confirming any potential bomb attacks in Romania in the period ahead. The Romanian Intelligence Service has announced it has no information pointing to links or connections between the bus bombing in Bulgaria and people or groups in Romania.

A total of 103 athletes represent Romania in the 2012 London Olympics

A total of 103 athletes will represent Romania in the 2012 London Olympics due to kick off on July 27. Romanian athletes are expected to bring home medals in gymnastics and fencing. The first Olympic medal for Romania came in 1924, while the first Romanian athlete was crowned Olympic gold medallist in 1952. Romania’s Olympic medal tally adds up to around 292 medals.