Romania’s premier-designate Siegfried Muresan said he’ll seek a parliamentary vote of confidence in his proposed cabinet early next week, in an attempt to end a drawn-out political crisis that’s undermined the Black Sea nation’s economy.

Romania’s Social Democratic party announced that it won’t support Siegfried Muresan, the president’s latest choice for premier, limiting his chances of winning a confidence vote for his proposed cabinet in coming days.

Romania’s former pro-Russian presidential candidate Calin Georgescu was detained by organized crime prosecutors for allegedly setting up a €1.1 million euro ($1.3 million) fraud scheme.

Romania is running out of time to avoid a credit rating downgrade to junk as the prolonged political crisis puts fiscal credibility in jeopardy, according to an analyst from Fitch Ratings Inc.

Traders are treating Romanian bonds as the European Union’s only junk-rated sovereign debt, with the country’s high yields luring investors despite a protracted political crisis in Bucharest.

A farmers’ protest in the Romanian capital erupted in violence on Tuesday when demonstrators spurred on by alleged agitators clashed with riot police, in the worst civil unrest the country has seen in years.

Romania’s failure to pass a key reform measure is complicating prospects of further fiscal improvement and increases risks of the country losing its investment credit rating.

Romania is poised to lose about €770 million ($816 million) in recovery funding from the European Union after it failed to approve a unified wage law.

Romania held interest rates at the highest level in the European Union, with the central bank waiting for inflation to slow below 10% and political turmoil to subside before considering policy easing.

Romania is likely to hold borrowing costs unchanged at the highest level in the European Union as a lengthy political crisis clouds the economic and inflation outlook.

Romania can keep the second nuclear reactor at its Cernavoda plant in operation for at least nine more days after explosive works on the Danube led to an increase in the flow of the river by 4cm (1.6 inches).

Romania’s parliament approved several bills that will help unlock about €3 billion ($3.4 billion) in European Union recovery funding that’s crucial for meeting this year’s budget deficit goal.

Thousands of healthcare workers in Romania went on their first nationwide general strike in a decade against a planned wage bill that’s key for unlocking European Union funds, heightening pressure on political parties to end a three-month deadlock over a new government.

Romania’s largest parliamentary faction proposed a cross-party “crisis taskforce” to discuss and approve crucial laws that the current caretaker government is unable to pass.

Romanian inflation eased as the impact of last year’s tax increases gradually faded away with the outlook for potential interest-rate cuts clouded by volatile oil prices.

Romania held interest rates at the highest level in the European Union as policymakers tackle double digit inflation in an economy on the verge of a recession.

President Donald Trump spent the bulk of his speech at the NATO summit airing frustrations about Iran, telling allies that the US isn’t interested in regime change anymore and that European countries have let him down repeatedly.

Romania held interest rates at the highest level in the European Union as policymakers tackle double digit inflation in an economy on the verge of a recession.

Polish and Romanian policymakers are expected to keep interest rates unchanged on Wednesday as inflation moderates across much of eastern Europe after a spike in price pressures during the US-led war on Iran.

NATO allies are close to a landmark agreement to extend a Cold War-era fuel pipeline network to eastern Europe and Turkey, aiming to ensure those countries can get supplies in a crisis.