Romania's Prime Minster Emil Boc has resigned following weeks of public protest against IMF-backed austerity measures amid the debt crisis sweeping the European Union....the successor to the Holy Roman Empire, only without the Hapsburgs and the nifty uniforms and the dancing...
Announcing his resignation on Television on Monday, Boc said that he wanted to "defuse political and social tension" and to protect the stability of the country.
"We made this decision in order to alleviate the social and political situation in the country, but to not lose what Romanians have won with so much suffering, the country's economic stability," Boc said.
The resignation comes after three weeks of public demonstrations demanding the resignation of President Traian Basescu and the Boc government for imposing harsh austerity measures including a 25 percent cut in public sector wages, 24 percent increase in sales tax and a freeze on pensions.
Romania needed to implement the measures to qualify for the next installment of a 20bn euro bailout loan from the International Monetary Fund (IMF).
Boc's resignation makes Romania the sixth European country to see a prime minister fall to the debt crisis.