Moldovan President Moves To End Political Crisis

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WATCH: Protests Continue In Moldova Over Oligarch's Nomination For Prime Minister

The president of Moldova has proposed a candidate to serve as prime minister in a bid to defuse a political crisis in the poor post-Soviet country.

President Nicolae Timofti late on January 14 nominated Ion Paduraru, secretary general of the presidential administration.

Timofti took the action a day after rejecting Vlad Plahotniuc, a controversial candidate put forward by the pro-European governing coalition.

Earlier, thousands took to the streets of the capital Chisinau to protest against Plahotniuc, a politician with investments in oil, finance, banking and media, claiming he has too much power and influence.

Ion Paduraru

Parliament will vote on Paduraru, a former justice minister with a pro-European outlook, next week.

If parliament fails to approve a government by January 29, it will be dissolved and an early election called. Parliament dismissed the previous government in late October amid allegations of corruption.

Moldova has been plagued by instability since up to $1.5 billion went missing from three Moldovan banks before November 2014 parliamentary elections, sparking weeks of protests last fall.

With reporting by AP and AFP