Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Thousands of Romanians protest against austerity

Published 09/22/2010, 10:48 AM
Updated 09/22/2010, 10:52 AM

* Demonstration unlikely to sway govt policy, analysts say

* Part of wider wave of protests across Europe

BUCHAREST, Sept 22 (Reuters) - Thousands of Romanian clerks, nurses and teachers marched through the capital Bucharest on Wednesday protesting against tax hikes and state sector wage cuts, but the demonstration looked unlikely to sway policy.

Austerity measures in recession-hit Romania, vital to the country's 20 billion euros aid package led by the International Monetary Fund, have left the government deeply unpopular and facing a no confidence vote in parliament next month. [ID:nLDE68J1NV]

The protest is part of a wider wave of discontent across Europe where unions are staging rallies against austerity measures. However, analysts have said the actions are unlikely to deter cash-strapped governments.

Around 10,000 people protested outside government headquarters in Bucharest, according to riot police, although union leaders put the total at up to 17,000. The protesters blew whistles and urged Prime Minister Emil Boc to resign.

Union representatives had expected 20,000 people to attend after a May demonstration pulled in some 30,000 protesters.

The centrist government has raised VAT by 5 percentage points to 24 percent to cut the country's vast budget deficit and reduced public wages by 25 percent, as well as axeing thousands of state jobs.

Support for Boc's Democrat-Liberals has plummeted to record lows at 13 percent.

The march limited the leu currency's

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.