#ROMANIA: Parliament Defies President, IMF, Approves Social Security Tax Cut

[world politics news]

Pres. Traian Bascscu

Romania's Chamber of Deputies has approved a 5% cut in the social security tax paid by employers, in defiance of the International Monetary Fund and despite a warning from Pres. Traian Băsescu that it will create shortfall in government revenue, requiring a hike in other taxes.