Romania political row may deter investors

Publish date: 30-03-2007
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The U.S. envoy in Bucharest warned Thursday Romania's political problems could deter foreign companies from investing in the Balkan country. U.S. Ambassador Nicholas Taubman, addressing the American Chamber of Commerce in Bucharest, said the current political turmoil spread doubts outside Romania whether it is appropriate to invest in the country at this moment.

Romania became a full member of the European Union Jan. 1, and any slowdown in its political and economic reforms could discourage foreign investors.

Political analysts say the ruling coalition in Romania is near collapse as serious rifts have developed over the past months between President Traian Basescu and Prime Minister Calin Popescu Tariceanu. Basescu claims Tariceanu is trying to influence judiciary officials, while Tariceanu says Basescu is trying to grab too much political power.

The governing coalition is composed of Basescu's Social Democrats and Tariceanu's National Liberal Party, each with roughly equal voting strength in both houses of parliament, virtually blocking the work of the government and parliament.

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