Economist Intelligence Unit analyst Joan Hoey has told that the suspension of President Traian Basescu yesterday is a great humiliation for him, for applying the promises he made in the 2004 elections.

Hoey says the suspension does not pose immediate risks for the Romanian economy, but believes the National Bank and the Government will find it hard to deal with problems related to the constant appreciation of the Romanian leu against the euro and to the current account deficit.

Hoey told that the very reason for the president’s suspension was that he applied the promises he made in 2004. She believes the large number of votes that supported the suspension in Parliament was the perfect barometer showing how many enemies he has made for the past two and a half years.

It is obvious it was a vote of revenge when noted that there is no post-suspension strategy and that political parties do not yet have people prepared enough to face Basescu in an electoral confrontation, she said.