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The 1923 Romaniam Constitution (the last constitution approved while Romania was still a Kingdom) settled the succession "from male to male in order of primogeniture and with the perpetual exclusion of women and their descendants"; this means that, according to that provision, the successor to King Michael will be the Fürst of Hohenzollern (who btw has declared not to be interested in the Romanian succession).
This was until 2007, when King Michael changed the succession rules, allowing women to succeed to the throne and excluding the Hohenzollern relatives from the succession; so his heir is his eldest daughter Margarita.
The problem is that some think that being Michael a constitutional monarch he can't change the succession law (previously contained in the Constitution), because only the Parliament can amend the Constitution; thus, according to this theory, the succession is still following the 1923 provisions.
This was until 2007, when King Michael changed the succession rules, allowing women to succeed to the throne and excluding the Hohenzollern relatives from the succession; so his heir is his eldest daughter Margarita.
The problem is that some think that being Michael a constitutional monarch he can't change the succession law (previously contained in the Constitution), because only the Parliament can amend the Constitution; thus, according to this theory, the succession is still following the 1923 provisions.