Bucharest: Romanian President Traian Basescu swore in the new coalition government of right-wing Liberal Democrats and leftist Social Democrats, following approval from parliament.

"This government is the result of a political compromise made for the benefit of the people" at a time of economic crisis, Basescu said at the ceremony held yesterday, in reference to the alliance between two parties that have been bitter rivals for the past decade.

"Of course, nobody can reduce the effects of the (financial) crisis to nothing, but the government's task is to limit the effects as much as possible and I trust that you will take rapid and wise measures," the president said after signing the decree confirming the new government.

Earlier, parliament approved the coalition under Prime Minister Emil Boc and Social Democrat Deputy Prime Minister Dan Nica, with 324 votes in favour and 115 against.

The priorities of the new government will be to ensure a stable economy, protect jobs, increase salaries and guarantee a fair fiscal system with a single flat tax, while reforming the judicial system.

Source : PTI