May 14, 2025
A roundup of local and world news
Newsroom, 14.05.2025, 13:55
RECOVERY – The Romanian financial and banking market continues its slow recovery after last week’s downturn, shortly after the announcement of the result of the first round of the presidential election. The Leu appreciated slightly against the Euro, but lost ground against the US dollar. Also, the three-month ROBOR index, used to calculate consumer loans with variable interest, fell to 7.2%, as did the IRCC reference index for consumer loans, which reached 5.55%. Also, the share prices of companies traded on the Bucharest Stock Exchange have resumed growth. Economic analysts warn, however, that market volatility remains high.
GOVERNMENT – The income and expenditure budgets for 2025 of several state institutions are expected to be approved today by Romania’s caretaker cabinet. The agenda for Heroes’ Day, to be observed on May 29, will also be established under a government order. Traditionally marked on the Ascension of the Lord, Heroes’ Day is a public holiday in Romania. The law adopted by the Government establishes which commemorative events will be held in the capital-city, in the country and abroad.
PEACE TALKS – Ukraine’s president Volodymyr Zelenskyy said he would travel to Turkey this week for Russian-Ukrainian peace talks, only if Vladimir Putin does so. The Kremlin leader himself launched the proposal for direct peace negotiations, after rejecting a request for an unconditional 30-day ceasefire, which was supposed to come into effect on Monday. The request was made by the leaders of France, Great Britain, Germany and Poland, who said they also spoke on behalf of the United States. They also said that if Russia does not accept the ceasefire, even tougher sanctions will be imposed.
REPORT – The European Parliament’s Foreign Affairs Committee has hailed progress made towards EU accession reported by the Republic of Moldova. In a report adopted with a large majority of votes, MEPs note that the fall parliamentary election will be instrumental for the continuation of the Republic’s pro-European trajectory and warn against the possible escalation of foreign interference, especially from Russia, as well as hybrid attacks.
PFIZERGATE – The European Court of Justice (ECJ) has today overturned the European Commission’s decision to deny the New York Times access to a message exchange between European Commission president, Ursula von der Leyen, and Pfizer CEO Albert Bourla concerning the purchase of Pfizer anti-COVID vaccines during the pandemic. The ruling concerns a 2023 legal challenge from the US publication, accusing Ursula von der Leyen of having directly and secretly negotiated the purchase of anti-COVID vaccines. Specifically, the Commission signed a €35 billion contract in the spring of 2021, for the delivery of 1.8 million Pfizer vaccines to the EU. Prior to the ruling, the Commission said that all negotiations were conducted with the approval of Member States, and that the documents the US publication wanted were not registered officially. In its judgment, the ECJ argues that the Commission “has not given a plausible explanation to justify the non-possession of the requested documents”. The Commission can appeal the decision within the next two months.
RCW – Over May 14-15, Iași is hosting over 500 events as part of Romanian Creative Week, the largest event dedicated to the creative industries in the European Union. According to the president of the Federation of Employers of Creative Industries, Irina Schrotter, the Ministry of Culture has declared Romanian Creative Week a strategic cultural event, the seventh in a list of similar events. Over the course of 12 days, some 1,000 artists, writers, designers, architects, cultural entrepreneurs and innovators from Romania and abroad will bring to the forefront emerging ideas, cross-border collaborations and perspectives on the future of the creative industries – literature, music, film, fashion, visual arts or architecture.
FESTIVAL – The 78th edition of the Cannes Film Festival kicked off last night. At the opening ceremony, American actor Robert de Niro was awarded an honorary Palme d’Or for his entire career. No Romanian film has entered the main competition, where 22 features are competing for the grand trophy. Romania is, however, represented in several sections of the Festival. The film “Milk and Cookies”, directed by Andrei Tache-Codreanu, is competing in the student section. The film was selected from over 2,700 proposals from around the world. Also, Vasile Todinca’s short film “Alişveriş” was selected in the “Semaine de la Critique” section.
FOOTBALL – CFR Cluj is tonight playing FC Hermannstadt in the Romanian Football Cup final. The match will be played in Arad. For the second year in a row, FCSB has won the championship. The team from Bucharest has already secured the title with two rounds left to play in the group phase. (VP)
