Romanians Cast Ballots In Presidential Election, National Referendum

Twelve candidates have joined the presidential race and the election will likely see a runoff on December 6, as none of them is seen securing over 50% of the votes. The top three contenders for a five-year term are the country's incumbent President Traian Basescu, backed by the Democratic Liberal Party, social democrat leader Mircea Geoana and liberal leader Crin Antonescu.

Polling stations in the country open at 7 a.m. (GMT0500) and close at 9 p.m. (GMT1900). Romania also has 294 polling stations for its citizens abroad. Polls opened Saturday evening at GMT1800 in New Zeeland and will close Monday, November 23, on the west coast of the United States.

Sunday's presidential election is seen as crucial to the country that has been shaken by political instability since its government collapsed mid-October.

Acting President Basescu has already twice failed to win Parliament support for a new prime minister and the country will likely not have a legitimate government in place before the election runoff scheduled for December 6.

The Constitution bans Basescu from dissolving the Parliament and call for early elections during the last six months of his term, which leaves it up to the future president to name a prime minister whose government should secure a confidence vote.

Romania, which relies on a EUR20 billion IMF-led rescue loan, of which it already got EUR6.6 billion, will not see further loan disbursements until it has a proper government and it adopts next year's state budget.

The east European country has already seen social unrest over an IMF-required law regulating wages across the public sector and is prone to witness more protests if the future government does cut tens of thousands of public jobs and lowers wages, as the IMF requires.

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