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.
The fund Cultura Face Bine, a national funding mechanism for cultural projects backed by private-sector financing, will begin supporting local cultural organizations in 2026. The fund aims to support grassroots cultural initiatives with a proven impact in their communities and which need resources to continue, develop, or transform their activities. The funding mechanism has been […]
The European Commission (EC) announced on Thursday, December 11, that it is referring Romania to the Court of Justice of the European Union (CJEU) for failing to meet obligations under Ambient Air Quality Directives. According to the Commission, Romania has not ensured that its national air quality monitoring network complies with legally required standards on […]
The Bucharest Court of Appeal (CAB) held an unprecedented press conference on Thursday, December 11, in response to allegations raised in a recent media investigation published by Recorder, with court president Liana Arsenie firmly rejecting the claims. However, at the start of the press event, a judge from within the institution publicly stated that the […]
Romania’s Superior Council of Magistracy (CSM) issued its first response to the Recorder documentary alleging systemic manipulation within the justice system, calling the investigation an amplification of a “campaign to destabilize judicial authority.” The council said on Thursday, December 11, that it will evaluate what measures need to be taken following the report. In a […]
MedLife, Romania’s largest private medical services network, announced on Wednesday, December 10, that it reached a market capitalization of EUR 1 billion on the Bucharest Stock Exchange (BVB). The milestone secures its position as “the most valuable healthcare company” in the country. The achievement came nine years after MedLife’s listing on BVB in December 2016, […]
The Buzău Land UNESCO Global Geopark in Romania has become a “living laboratory” this week as a team of American researchers arrived to study microorganisms capable of surviving in extreme environments. The scientists, part of the interdisciplinary research organisation The Two Frontiers Project, are examining methane seeps, sulfur and petroleum springs, saline sources, and other […]
