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Massive Demonstration In Romania Protesting Austerity Measures

Romania’s workforce held a demonstration on Wednesday to protest the government’s new austerity measures that cut jobs and wages.

The demonstration by some 20,000 people, who gathered in front of the government headquarters in capital Bucharest to protest planned government wage-cuts, was one of the largest mass protests that the Eastern European country witnessed since the fall of Communism in 1989.

Six-month-old centrist government of Prime Minister Emil Boc was forced to announce austerity measures to bolster the country’s struggling economy and to meet a July deadline set by the International Monetary Fund (IMF) for the fifth tranche of a 20 billion-euro ($25 billion) loan.

The IMF has said it will disburse its next installment of aid only after Romania enforces a credible plan to reduce its budget deficit to 6.8 per cent of the Gross Domestic Product.

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