Romania’s Constitutional Court has postponed a ruling regarding the referendum on the impeachment of suspended president Traian Basescu. The Court explained that data submitted so far regarding the number of people on permanent voting lists were contradictory. The Court called on the Government to send the updated lists used in the July 29 referendum. Both the ruling coalition and the opposition said they would comply with the Court’s decision. The pro-Basescu Liberal-Democratic Party called on the Government to resign for sending contradictory data regarding the number of citizens with a right to vote. The ruling Social-Liberal Union claims the number of voters is smaller than official figures taken into account before the referendum. Accordingly, the Social Liberals argue that the number of voters exceeds 18 millions and that the quorum was met. According to figures made public by the Central Electoral Bureau, the voter turnout was over 46%. Of these, over 87% voted for the impeachment of the president, whereas 11% voted against it. To be valid, the referendum requires a voter turnout of 50% plus one of the number of voters on the lists. Pending a final ruling of the Court, interim president Crin Antonescu gave assurances Romania would not experience a spell of instability. Crin Antonescu:

“There is a fully-legitimate government in Romania that operates with all its institutions. There is a Parliament in Romania, although MPs are on holiday, but even so, a fully legitimate Parliament. There is the Romanian presidency, although interim, that is also operating under normal conditions. All foreign financial and political institutions have at present official interlocutors, fully qualified and legitimate”.

The Leu-Euro Exchange Rate Experiences Alarming Fluctuations.

For the second week in a row, the exchange rate for the Romanian Leu remained high, standing at 4.5 and 4.6 lei against the Euro, and at 3.7 lei against the US dollar. Economic pundits argue the political turbulence at home has contributed to the depreciation of the Leu, given that Eurozone economies are also struggling. National Bank Governor Mugur Isarescu believes a clarification of the internal political context would greatly benefit the country’s economy and would boost investor trust. Isarescu explained that political unrest at home and the sovereign debt crisis in the Eurozone were generating net capital outflows with a negative impact on the exchange rate.

A new IMF mission arrives in Bucharest.

Until 13 August, representatives from the IMF, the World Bank and the European Commission are examining in Bucharest, alongside the Romanian authorities, the level of compliance with the aims set in the stand by agreement. This is the sixth mission to assess the precautionary loan agreement, signed in March 2011. The loan was issued for two years, worth a total of five billion Euros. On the agenda of the present meeting is the situation of state companies, the intention of the government to reduce VAT rates for basic products from 24 to 9%, as well as the tax incentives offered to companies that hire out-of-work people. PM Victor Ponta said he was optimistic regarding the talks:

“It is very important to show how serious we are, and how determined not to break our word. I am convinced that this will reflect on the atmosphere on the banking and finance market, but also on the business environment. The things we want to do and have announced, these will have to be discussed with our international partners – cutting the VAT tax, the project on job creation, and the exemptions from social insurance contributions… we have to present these in a very clear manner, to ensure the unhindered support of our international partners”.

Famous Romanian pianist dies in Vienna.

Famous Romanian pianist Mihaela Ursuleasa died in Vienna, at only 33 years of age. She was scheduled to play on August 1st with Romania’s National Youth Orchestra, directed by Cristian Mandeal, and on August 4th with the same orchestra, in Berlin. She was born in 1978 in Brasov, and showed she was a child prodigy on the piano. At only 16 years of age, she won the Clara Haskil Competition in Switzerland. She then moved to Vienna to study at the Conservatory there. She held many concerts on the biggest stages in Europe and the United States.

Medals for Romania in shooting, judo, weightlifting and women’s gymnastics at the 2012 London Olympics.

The first six days of the Olympics in London brought Romania as many medals. Shooter Alin Moldoveanu earned gold in the 10-meter air rifle event, while Roxana Cocos got silver in the 69 kg category of the weightlifting competition. In Judo, Corina Caprioriu and Alina Dumitru each earned a silver medal, in the 57 and 48 kg categories, respectively. Weightlifter Razvan Martin won bronze in the 69 kilograms competition, and another bronze medal came from the women’s gymnastics team. 103 athletes are competing for Romania in the 30th edition of the Olympics Games. 10,500 athletes from over 200 countries will compete in the games until August 12th.