Romania's political deadlock following the May 5, 2026, no-confidence vote that ended Ilie Bolojan's pro-EU coalition government continues to shape trader views on when he will exit his caretaker role. The Social Democratic Party's withdrawal from the coalition and alliance with the far-right Alliance for the Union of Romanians produced the decisive 281-4 parliamentary result, but moderate parties have since failed to agree on a successor despite multiple attempts, including one rejected in June. Bolojan retains limited interim authority as negotiations stall, with risks to EU funding and fiscal stability adding pressure. Ongoing coalition talks and any scheduled parliamentary sessions through late 2026 remain key variables that could accelerate or further delay a new cabinet's confirmation.