For Luciana Bizgan, Romania’s presidential race could mean she’ll never again turn up for work wearing rubber boots. Across the nation of 20 million, the second-most populous of the European Union’s newer members, Romanians are witnessing Prime Minister Victor Ponta’s bid for president triggering a spending glut on streets, schools and churches. Bizgan, 36, a seamstress, wants her dirt road in the southern town of Turnu Magurele asphalted so rain doesn’t dictate her footwear. “I just hope this time it’s my street’s turn,” she said. The EU’s second-poorest member, whose post-communist transformation has pushed bond yields to record lows, is loosening the purse strings a year after exiting monitoring by the bloc for fiscal slackness. Next year’s budget shortfall may balloon to double the government target, leaving a headache for Ponta’s successor, should the prime minister turn his poll lead into victory in a Nov. 16 runoff.Full Article: No More Rubber Boots as Romania Vote Splurge Tests Budget - Bloomberg.
Nov 12 2014