Romania’s government collapsed after losing a no-confidence vote, triggering challenging talks over a new cabinet that’s needed to safeguard efforts to rein in the European Union’s widest budget deficit.

Romanian lawmakers will vote on ousting Prime Minister Ilie Bolojan in a move that could plunge the country into a renewed political crisis and imperil efforts to narrow the widest budget deficit in the European Union.

Romania moved a step closer to losing its prime minister after the former ruling party unexpectedly joined forces with the far right opposition to file a no-confidence vote against the minority government.

Romania’s finance minister warned that the current political turmoil is increasing funding costs and may raise the risk of the country losing its investment grade credit score.

Romania’s finance minister warned that the current political turmoil is increasing funding costs and may raise the risk of the country losing its investment grade credit score.

Romania’s former top ruling party will join the far-right opposition in a attempt to topple the prime minister, Ilie Bolojan, in the latest escalation of the political crisis that threatens to derail efforts to cut the European Union’s widest budget gap.

Romania’s former top ruling Social Democratic party will join forces with the far-right opposition in a attempt to bring down the minority government of Prime Minister Ilie Bolojan, its deputy leader said.

Romania will rely on a minority government to push through reforms needed to secure billions of euros in European Union funds after the largest party in the coalition quit in a dispute over unpopular austerity measures.

Former Moldovan strongman Vladimir Plahotniuc was sentenced to 19 years in prison for his involvement in a $1 billion banking fraud that left the nation on the verge of bankruptcy over a decade ago.

Romania’s government is on track to lose its parliamentary majority after the biggest party in the four-member coalition signaled it’ll go into opposition, risking political instability and imperiling a drive to narrow the European Union’s widest budget deficit.

The biggest party in Romania’s ruling coalition warned it will withdraw ministers from the government, raising pressure on Prime Minister Ilie Bolojan to step down and pushing the four-way alliance further to the brink of collapse.

The biggest party in Romania’s ruling coalition warned it will withdraw ministers from the government, raising pressure on Prime Minister Ilie Bolojan to step down and pushing the four-way alliance further to the brink of collapse.

Romania was thrown into fresh political turbulence as the largest ruling party withdrew backing for Prime Minister Ilie Bolojan, whose fragile coalition government may now be on the verge of falling apart.

Romanian Prime Minister Ilie Bolojan said he won’t resign even if the largest party in the country’s ruling coalition decides to withdraw its political support for him next week.

The largest party in Romania’s ruling coalition is poised to withdraw support for Prime Minister Ilie Bolojan next week and demand his resignation, according to people familiar with the discussions, a move that would pitch the country into political crisis.

Romania is set to leave European Union’s highest interest rates steady as the surge in oil prices will likely fuel inflation that’s already running at close to double digits.

Romania’s central bank spent an equivalent of more than €1 billion ($1.2 billion) in March to prevent the global market turmoil sparked by the Middle East conflict from weakening its currency, according to people with knowledge of the matter.

Romania’s central bank spent an equivalent of more than €1 billion ($1.2 billion) in March to prevent the global market turmoil sparked by the Middle East conflict from weakening its currency, according to people with knowledge of the matter.

European allies are skeptical Donald Trump will actually pull the US out of NATO. But they still fear the president’s renewed threats to do so are eroding the military alliance at a precarious moment.

Romania’s ruling coalition reached an agreement in budget negotiations after the dominant Social Democrats won concessions for parts of a spending package that had stalled the talks.