The Week in Review 5-11 May, 2025
A roundup of the week's headline-making events
Daniel Bilț, 10.05.2025, 14:05
Economic Turbulences
The Romanian currency, the RON, has this week depreciated against the main convertible currencies, – the Euro, dollar, Swiss Franc – and the price of gold was at an all-time high. The psychological threshold of five RON per Euro has been exceeded and the Central Bank spokesman, Dan Suciu, has explained that the capital inflows on the market have lately decreased whereas withdrawals have significantly grown. In order to offset the phenomenon, the Central Bank has attracted liquidities from the market, which led to increased interests. Suciu has pledged the Central Bank will be trying to balance the situation. Experts believe that political uncertainties have been affecting the latest financial developments. Financial analyst, Adrian Codirlasu, chair of CFA Romania, says that risk aversion and the capital flight have been taking their toll on the currency rate. The political situation is fueling the investors’ fears, more than ever. They began selling Romanian bonds and leaving the country, says economic consultant Adrian Negrescu.
Guarantees for the presidential runoff
According to the Romanian Interior Ministry, there is no blockage in staging the second round of the presidential election in Romania, due on May 18 and refutes the alarming messages on various social platforms, ‘which are aimed at creating social unrest and division.’ According to the sources, ‘content elements with alarmist scenarios about the blocking of the presidential run off have been identified, which incited to violence and the people’s lack of trust in the authorities. The aforementioned messages have preponderantly been launched on social networks and eventually disseminated around legitimate social media communities with a view to boosting uncertainty’. The Ministry makes an appeal to citizens, journalists and the other players involved in the election process to not support such narratives and urges people and opinion makers to show a more cautious attitude. The presidential runoff pitches the AUR leader of the nationalist opposition George Simion against the independent mayor of Bucharest, Nicusor Dan. Simion emerged as winner of the first round with 41% of the votes, whereas Nicusor Dan mustered 21%.
Top politicians step down
Romania’s Social-Democratic Prime Minister, Marcel Ciolacu, has stepped down from the PSD-PNL-UDMR government upon the first round of the presidential election, after the former liberal leader backed by the ruling coalition, Crin Antonescu, came third and failed to make it to the runoff. ”The ruling Coalition has no legitimacy, at least in this formula. I proposed to my colleagues to leave the coalition, which leads to my resignation as a Prime Minister. We decided that PSD ministers would hold talks with PNL and UDMR representatives and we made the decision to support neither of the two runoff candidates, Ciolacu told the reporters at the party’s central headquarters on Monday night. The Liberal Interior Minister, Catalin Predoiu, has taken over the leadership of the Executive. In his first statement as a Prime Minister, he says that Romania is and must remain a resilient democracy, a country whose development objectives must remain anchored in the Euro-Atlantic values. His team will be able to manage current affairs through government decisions and ministerial orders, but will not be able to endorse emergency ordinances and legislative projects. The USR leader, Elena Lasconi, also stepped down on Monday, after getting less than 3% of the votes in the first presidential round. The mayor of Campulung Muscel in southern Romania, says she will remain active in the public life and the effort of changing the old political class. During the election campaign for the presidential race, she was abandoned by her colleagues from the USR leading board in favour of Mayor Nicusor Dan, the man who founded USR a decade ago.
Romania hails the New Pope
The Patriarch of the Romanian Orthodox Church, which is a majority in Romania, Daniel, has sent a congratulation message to the new Pope, Leo XIV, in which he has voiced his deep conviction the Pontiff will continue to promote the ‘spirit of dialogue, peace and cooperation between the Roman-Catholic and the Orthodox Churches.’ ‘In a world facing multiple spiritual, economic and social crises, a united Christian voice is needed more than ever, in order to offer a message of hope, solidarity and love”, Patriarch Daniel went on to say. Daniel has also voiced hope, the Pope will continue to support the Romanian Orthodox believers living in large numbers in Western Europe, mainly in Italy, as his predecessors, Benedict XVI and Francisc did. On Thursday night the 69 years old Robert Francis Prevost became the first American Pope in history. The new Pontiff has chosen the name Leo XIV-lea.
Sport Anniversary
Sports lovers and officials in Romania on Wednesday celebrated 39 years since the Romanian football side Steaua Bucharest won the European Champions Cup. On May 7th 1986, in Seville, Spain, a Romanian football side made up exclusively of local footballers clinched a 2-0 win against the famous FC Barcelona. On that night, Romanian goalie Helmuth Duckadam entered the world Book of Records after saving all the four shots. In February 1987, in Monte Carlo, Steaua also won Europe’s Supercup after a one-nil win against the Soviets from Dynamo Kyiv.
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