Romania's PM-designate renouncing premiership

Romania’s Prime Minister-designate Theodor Stolojan said today he would renounce the premiership in favour of a younger candidate.

Stolojan, 65, said in a short statement he would let Traian Basescu nominate somebody who will “give a hope to the young generation”.

Stolojan was nominated by Basescu last week as prime minister designate following elections on November 30.

Basescu was expected to make a statement shortly on Stolojan’s decision.

The new government had been expected to face a parliament vote on December 22 but it was unclear whether this would now be possible.

A former World Bank expert, Stolojan was prime minister between 1991 and 1992. He also served as finance minister.

Romania’s coalition government will be formed by the left-leaning Social Democrats and the centrist Democratic Liberals who have about a 70% parliamentary majority. Stolojan is a member of the Democratic Liberal Party.

Although very experienced in economic issues and a loyal ally of Basescu, Stolojan was accused of being inflexible in political negotiations.