Romania's Constitutional Court rejected some parts of a key austerity package related to pensions on Friday, endangering a vital IMF-led aid deal, local news agency Agerpres reported, citing judicial sources., according to Reuters. The court said an official announcement would follow shortly. Disbursement of about 2 billion euros in aid from the International Monetary Fund and the European Union depended on the court's approval of a government move to slash state wages by a quarter and cut pensions by 15 percent. The IMF deal is the main anchor for foreign investors, whose cash is vital to the struggling recession-hit economy.
