The harm done to the economy by the Simion + Georgescu duo in just 2 days after the first presidential election round is worse than that inflicted by the Covid-19 pandemic, or the first two days after the outbreak of the war in Ukraine, considers economic analyst Iancu Guda.He pointed out that on Tuesday afternoon the EUR/RON intraday rate was 5.0985, and if the National Bank does not step in, it could rise past 5.1."The National Bank is doing a very good job: why should we sacrifice the national reserve (3 billion euros have already been burned in 2 days) for 40% of isolationist arsonists. Let them see the effects... let them feel the heat and understand. Georgescu + Simion = National Bankruptcy!!!," Iancu Guda explained on his Facebook page.He went on to note that the state can no longer finance the deficit, "that is, the coffers are out of money for pensions and salaries"."Today already no one buys RON-denominated government bonds any more, and access to foreign markets is closed. A weak RON = Expensive imports = High inflation = Rising interest rates. Consumption goes down, insolvencies, unemployment, recession. The conclusion ??? Generalized poverty! Plus many other negative effects after the second round," the economic analyst notes.The Bucharest Stock Exchange reacted negatively to the results of the first round of the presidential election and to the changes on the political scene, while the interest rates used to calculate the cost of loans went up, and the RON/EUR exchange rate topped the psychological threshold of RON 5 on Tuesday.Alliance for the Unity of Romanians (AUR) candidate George Simion took a comfortable lead in the first round of the election, with 3,862,761 votes (40.96%), followed by independent candidate Nicusor Dan with 1,894,259 votes (20.95%), according to data announced Monday morning by the Central Electoral Bureau after the count of 98.52% of the valid ballots.On Monday, Prime Minister Marcel Ciolacu tendered his resignation from the helm of the government and on Tuesday, acting President Ilie Bolojan signed the decree appointing Catalin Predoiu as caretaker prime minister to fill the office until the installation of the new government.
TEKUNI, a program dedicated to students and young entrepreneurs, was launched in Timișoara through a pilot project, with a future goal of nationwide expansion. The program offers a complete training path, structured into 7 modules that cover all stages of building a startup: from idea validation and MVP development to branding, marketing, legislation, finance, leadership, […]
The Romanian capital will be in the spotlight at the festival Un Week-end à l'Est, which runs in Paris until December 1. The event, which aims to present the artistic, literary, and intellectual richness of an Eastern European city, has previously focused on Warsaw, Odessa, Kyiv, Sofia, or Budapest. At its ninth edition, it is […]
Romanian tax agency ANAF has sued former president Klaus Iohannis in order to recover the loss of use of half of a property in the center of Sibiu. “The action represents a continuation of the steps that ANAF has taken for the recognition of the state’s ownership right and the recovery of compensation determined by […]
Romania will face Turkey in the semi-final of the World Cup qualifying play-offs, with the match scheduled to take place away from home on March 26 next year, Biziday.ro reported. A win would send the national team into the play-off final on March 31, where it would meet the winner of the Slovakia–Kosovo match. Romania […]
An exhibition showcasing various depictions of the traditional Romanian blouse ia, including Henri Matisse’s iconic La Blouse Roumaine, is opening this weekend in Bucharest, while Cluj is entering festive mode with...
Mercenary Horațiu Potra, who faces charges of attempting to undermine constitutional order in Romania, is being flown back to Bucharest under police escort after authorities in the United Arab Emirates approved his extradition,
