Latest news with #Bucharest-based
France 24
19-05-2025
- Politics
- France 24
Romanian presidential election ‘volatile and emotional', expert says
10:08 Issued on: 10:08 min From the show A silent majority in Romania was mobilised to ensure the win of pro-European candidate Nicusor Dan in Sunday's presidential election, according to Sorin Ionita, president of Bucharest-based think tank Expert Forum. Ionita, who spoke to FRANCE 24, said the uptick in votes from the first to the second round went to show 'how volatile and how emotional the elections were', adding, 'it's something that doesn't happen every day in politics.'
Yahoo
13-03-2025
- Business
- Yahoo
Romanian Inflation Edges Higher Amid Political Risks
(Bloomberg) -- Romanian inflation unexpectedly edged higher last month, likely reinforcing a central bank wait-and-see approach to monetary easing due to price pressures and political risks before presidential elections in May. Trump DEI Purge Hits Affordable Housing Groups NYC Congestion Pricing Toll Gains Support Among City Residents Electric Construction Equipment Promises a Quiet Revolution Open Philanthropy Launches $120 Million Fund To Support YIMBY Reforms Prospect Medical's Pennsylvania Hospitals at Risk of Closure Consumer prices rose at an annual rate of 5.02% in February, compared with 4.95% in January, the statistics office in Bucharest said on Thursday. That's above the 4.7% median estimate in a Bloomberg survey of economists. Prices rose 0.9% from the previous month. 'Inflation, though easing from its peak, remains sticky, complicating the central bank's efforts to balance economic support with price stability,' said Ciprian Dascalu, a Bucharest-based economist at Erste Group Bank AG. 'Uncertainty remains elevated, stemming from both internal and external factors, including political developments, fiscal policy choices, and global economic conditions.' Romania has been struggling over the past four months to exit a political crisis triggered by the unprecedented canceling of December's presidential elections after the first-round victory of a fringe pro-Russian candidate whose campaign raised suspicions of foreign meddling. The candidate, Calin Georgescu, was officially barred this week from running in the May 4 re-run in a move that may help ease the turmoil. The central bank expects price growth to ease this year to 3.8%, which would still exceed the top end its target range. Policymakers have held the benchmark interest rate at 6.5%, tied with Hungary's for the highest in the European Union, to help tame inflation. The budget deficit is forecast to reach 7% of the Black Sea country's economic output this year. While fiscal changes aimed at narrowing the gap are expected after the presidential elections, they may spark a short-term increase in the inflation rate and outlook remains clouded. --With assistance from Harumi Ichikura and Joel Rinneby. (Corrects the headline to reflect the scale of change.) How America Got Hooked on H Mart How Natural Gas Became America's Most Important Export Germany Is Suffering an Identity Crisis 80 Years in the Making Disney's Parks Chief Sees Fortnite as Key to Its Future The Mysterious Billionaire Behind the World's Most Popular Vapes ©2025 Bloomberg L.P.
Yahoo
09-03-2025
- Business
- Yahoo
Romanian Far-Right Frontrunner Barred From May Presidential Vote
(Bloomberg) -- Romania barred far-right frontrunner Calin Georgescu from running in May's presidential election, in a move that could worsen the country's political turmoil. NJ College to Merge With State School After Financial Stress Trump Administration Plans to Eliminate Dozens of Housing Offices Republican Mayor Braces for Tariffs: 'We Didn't Budget for This' Where New York City's Zoning Reform Will Add Housing How Upzoning in Cambridge Broke the YIMBY Mold The Bucharest-based electoral bureau invalidated Georgescu's candidacy, a spokesman from the bureau said on Sunday. It received more than 1,000 challenges to Georgescu's candidacy mostly related to his anti-democratic and extremist stances. The decision can still be appealed at the Constitutional Court. The decision to eliminate Georgescu from the May 4 presidential race will likely deepen Romania's anti-establishment mood and benefit the far-right. Polls showed that had Georgescu run, he would've garnered between 40% and 45% of the vote in the first round, giving him a real chance of becoming Romania's president. His ouster may also increase the chances for a mainstream, pro-European candidate to win the election, but it could also harm ties with the US. Bloomberg News reported that US officials recently urged Bucharest to let Georgescu run. 'Everyone is watching Romania and how the corrupt system acted,' Georgescu said on Friday, adding that he thinks it's impossible for his name not to be on the ballot's list of candidates. It remains to be seen whether Georgescu will throw his support behind any of the other candidates, such as the leader of the largest far-right opposition party AUR, George Simion, who backed him after the cancellation of the elections. Prior moves by the authorities against Georgescu, a fringe politician who has praised Russian President Vladimir Putin, had only increased his popularity and stoked distrust toward state institutions. After Georgescu unexpectedly won the first round of last year's presidential election, the top court annulled the result of the vote, citing suspicions of Russian meddling in his campaign. That move sparked Romania's biggest political crisis since the collapse of communism. The cancellation of the vote remains unpopular among Romanians and was also criticized by the administration of President Donald Trump and his allies such as Elon Musk. Prosecutors brought six criminal charges against Georgescu earlier this month as part of a probe into his previous campaign, for which he declared zero funding. He is accused of leading a fascist organization and making false statements on campaign financing. If found guilty, Georgescu could be imprisoned and barred from running for public office. Georgescu denies any wrongdoing and continues to claim no funding for his campaign, which he says was exclusively based on volunteers. An All-American Finance Empire Drew Billions—and a Regulator's Attention Greenland Voters Weigh Their Election's Most Important Issue: Trump The Mysterious Billionaire Behind the World's Most Popular Vapes Snack Makers Are Removing Fake Colors From Processed Foods Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? ©2025 Bloomberg L.P.
Bloomberg
09-03-2025
- Politics
- Bloomberg
Romanian Far-Right Frontrunner Barred From May Presidential Vote
Romania barred far-right frontrunner Calin Georgescu from running in May's presidential election, in a move that could worsen the country's political turmoil. The Bucharest-based electoral bureau invalidated Georgescu's candidacy, a spokesman from the bureau said on Sunday. It received more than 1,000 challenges to Georgescu's candidacy mostly related to his anti-democratic and extremist stances. The decision can still be appealed at the Constitutional Court.
Yahoo
06-03-2025
- Politics
- Yahoo
Romania Detains Six People for Treason in Russia-Linked Probe
(Bloomberg) -- Romanian prosecutors detained six people suspected of plotting to overthrow the government and withdraw the Black Sea nation from NATO with Russia's help. Trump Administration Plans to Eliminate Dozens of Housing Offices Republican Mayor Braces for Tariffs: 'We Didn't Budget for This' How Upzoning in Cambridge Broke the YIMBY Mold NYC's Finances Are Sinking With Gauge Falling to 11-Year Low Remembering the Landscape Architect Who Embraced the City The people, whom the prosecutors didn't name, are accused of establishing an organized criminal group in 2023 and developing a paramilitary structure, the Bucharest-based organized crime prosecutors said in a statement on Thursday. The group repeatedly contacted foreign agents active in Romania and Russia, prosecutors said. The new criminal probe comes at a sensitive time for Romania, which is holding a high-stakes presidential election in May. Far-right, pro-Moscow candidate Calin Georgescu is currently the frontrunner in that ballot, though it's not yet known whether he will be permitted to run. Georgescu's victory in the first round of last year's presidential election shocked the country. Romania's top court canceled that vote, citing suspicions of foreign interference, and ordered a rerun. The prosecutors will ask judges to arrest four of the people, while other two to be placed under house arrest. On Wednesday, Romania's foreign ministry declared two military attaches at the Russian embassy in Bucharest persona non grata, saying they breached the Vienna convention diplomatic rules. The Mysterious Billionaire Behind the World's Most Popular Vapes Rich People Are Firing a Cash Cannon at the US Economy—But at What Cost? Greenland Voters Weigh Their Election's Most Important Issue: Trump Trump's SALT Tax Promise Hinges on an Obscure Loophole Snack Makers Are Removing Fake Colors From Processed Foods ©2025 Bloomberg L.P.
