Romania's parliament Thursday approved, by a vote of 322 to 108 with 10 abstentions, an impeachment proposal against President Traian Basescu.

The president threatened earlier to present his resignation "in five minutes" if impeached, but explained later that he would resign only after the "Official Monitor" publishes the impeachment decision.

The "Official Monitor" must publish the parliamentary decision within 48 hours, as regulations stipulate.

The parliament assembled Thursday morning in a joint session to debate and vote on Basescu's impeachment.

Basescu warned Wednesday that parliamentary voting against him would bring serious consequences for Romania, including a fall in the country's rating and weakening position in the EU due to the political instability it would cause.

The constitution says that if the president is impeached, a referendum has to be held within 30 days so that Romania's population can express its will on whether to keep the head of state in office.

Since the president had vowed to resign if lawmakers voted to suspend him, the government must organize, according to the constitution, elections within three months to elect a new president.

The speaker of the Senate (Chamber of Deputies) will be acting president over this period.