Romania's President Traian Basescu has nominated leftist opposition leader Victor Ponta as the country's new Prime Minister on Friday.

Ponta is to form a government after the Romanian parliament brought down a two-month old center-right cabinet in a no-confidence vote.

"Victor Ponta is the prime minister designate. He was the only proposition made by three political parties," Basescu told a news briefing, as cited by international media.

"I do hope the new government will be installed rapidly," he added.

Ponta must draft a governing program, the cabinet lineup and ask parliament for backing within 10 days.

Romania's government of Prime Minister Mihai Razvan Ungureanu was brought down, as a total of 235 MPs cast their ballots in favor of defeating it in a no confidence vote on Friday, with 231 votes needed.

Ungureanu's cabinet cut salaries and increase taxes in an attempt to stabilize the country's finances. However, the anti-crisis measures dealt a serious blow to Romania’s economic recovery.

The no-confidence motion was submitted by the opposition Union of Social Democrats and Liberals (USL). Shortly after the vote, USL leader Victor Ponta declared that the formation was ready to form a new government.

Over the past several days, several MPs of the governing coalition defected to join the oppositional USL, hotnews.ro informs. Early on Friday, USL needed only 4 votes to reach the threshold for the motion to pass and for the government to fall (231 lawmakers).

The cabinet headed by Prime Minister Mihai Razvan Ungureanu was approved by the country's Parliament on February 9, 2012.