Romania's New PM Faces Immediate Test on Fiscal Discipline

Adrian Vestea was nominated as prime minister on June 14 and has ten days to assemble a government. Brussels is watching closely: Romania's current-account deficit is widening, and its budget trajectory concerns the European Commission. Vestea's experience absorbing EU funds is an asset, but he must push fiscal consolidation through a divided parliament while keeping his coalition intact—a test markets are tracking closely.