August 11, 2025
A roundup of domestic and international news
Newsroom, 11.08.2025, 13:55
Reforms. The Romanian Government is beginning preparations this week for the adoption of the second package of budget reforms, given that Fitch Ratings has announced that on August 15 it will publish Romania’s sovereign rating, one of the assessments on which the country’s creditworthiness on international markets depends. According to the agency’s statement, reducing the budget deficit and stabilizing debt are key conditions for avoiding a downgrade of Romania’s country rating, which is currently at BBB- with a negative outlook. Package 2, for which the cabinet led by Ilie Bolojan intends to take responsibility in Parliament, as it did in the case of Package 1, provides for profound reforms in the structure and functioning of the state at the central and local levels. One of these is the completion of the legislative framework for the second pillar of pensions, which aims to eliminate the current possibility for beneficiaries of this pillar to access the full amount saved. The President of the Financial Supervisory Authority, Alexandru Petrescu, says that the proposed bill, together with the Ministry of Finance, on private pensions is a necessary and priority measure, as it completes the legislative framework. In addition, it is also a recommendation from the OECD, to which Romania must respond.
Government. Prime Minister Ilie Bolojan has voiced hope that the PSD will not leave the government, in the context of recent tensions generated by the different positions of the coalition partners regarding the official ceremonies dedicated to former President Ion Iliescu, and stressed that political stability is crucial for Romania, especially in the current economic and social context. During a broadcast on a private television station, the prime minister acknowledged that, in a coalition of four parties supported by the minority group, harmonizing positions is sometimes difficult, but he stressed that responsibility is needed to move the country forward. The PSD leadership is meeting today amid tensions within the coalition caused by the refusal of its USR partners to attend the funeral of former President Ion Iliescu. USR cited respect for the victims of the Revolution and the miners’ riots. The Social Democrats say they want to assess the impact on the functioning of the coalition by establishing a clear party position on continuing government collaboration in conditions of mutual respect and political fairness.
Talks. EU foreign ministers and their Ukrainian counterpart are scheduled to hold an extraordinary meeting today via videoconference to discuss involvement in high-level Russian-American negotiations related to the war in Ukraine. European leaders are insisting that President Volodymyr Zelensky participate in Friday’s summit in Alaska between Donald Trump and Vladimir Putin. The EU’s foreign policy chief, Kaja Kallas, who convened the meeting, says that any agreement between the US and Russia must include Kyiv and the EU because it is a security issue for Ukraine and for Europe as a whole. US Vice President J.D. Vance said Washington is trying to get President Zelensky included.
Earthquake. Twelve buildings collapsed and an unknown number of people were injured following a 6.1-magnitude earthquake that struck western Turkey on Sunday evening, authorities announced, according to AFP and EFE. The quake struck at 7:53 p.m. local time in Balikesir province, with its epicenter in the Sindirgi area, about 200 kilometers from Turkey’s largest city, Istanbul. The earthquake was felt over a wide area, including major cities such as Istanbul, Izmir, Bursa, and Kocaeli, and several aftershocks with a magnitude greater than 4 were recorded in the following hour. Istanbul Governor Davut Gul said there were no reports of major damage or casualties in the Turkish metropolis.
Weather. In Romania, the weather will be extremely hot in the southwest, locally in the south, and in limited areas in the center of the country, and the thermal discomfort will remain high. In the rest of the country, temperatures will be lower than the previous day and will approach the average normal for this time of the year. Maximum temperatures will range from 25-26 degrees in the northeast to 41 degrees locally in the south. The sky will be mostly clear, except for areas in the south and center where, in the afternoon and evening, there will be periods of atmospheric instability in limited areas, with temporary cloud cover, torrential showers, and lightning. The noon reading in Bucharest was 33 degrees Celsius. (MI)
