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George Simion Leads Romanian Presidential Race with 40% Vote, Causing Currency to Hit Historic Low

31 posts • Grok (2)

Updated May 9, 2025, 08:43 AM

Romania's political landscape is undergoing significant turmoil following the first round of the presidential elections, where far-right candidate George Simion emerged as the frontrunner with nearly 40% of the vote. This has led to the resignation of Prime Minister Marcel Ciolacu and the collapse of the pro-Western coalition government, intensifying financial market volatility. The Romanian currency has hit a historic low, reflecting the increased political risk. Simion's victory has sparked a debate on Romania's foreign policy, particularly regarding support for Ukraine. During a televised debate on Euronews, Simion demanded that Ukraine compensate Romania for past military and humanitarian aid, including the Patriot system donated by former President Klaus Iohannis, emphasizing a policy of neutrality and opposition to further assistance. He stated, "Ukraine needs us, we don't need Ukraine," and called for respect for the rights of Romanians living in Ukraine. In contrast, independent candidate Nicușor Dan, who advocates for a pro-European stance, argued for continued support for Ukraine, highlighting the importance of Romania's participation in the EU's rearmament program. Dan stressed that Romania's security and economic development are tied to its European commitments. The political crisis has raised concerns among Romanian employers about the potential for a severe recession. A major employers' group warned that the lack of a stable government and the downgrade of Romania's credit rating could lead to economic downturns, estimating a potential impact on GDP growth of between 0.3% and 0.7%. Romania's economy grew by only 0.8% last year, the slowest pace since the COVID-19 pandemic. As Romania heads into the second round of the presidential election on May 18, the political instability continues to affect the country's economic outlook. S&P Global has warned that the ongoing crisis could undermine external financing sources, with the central bank intervening to support the leu amidst rising borrowing costs. The leu has lost nearly 3% of its value this week, and the yield on 10-year bonds has increased by about 100 basis points since the beginning of the week.

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Sources

aktual24.ro(3)reuters.com(3)l.euronews.com(3)adevarul.ro(2)

RFI Romania

@RFI_Romania

The biggest evil for Romania's future is George Simion, Vice-President of the European Parliament Victor Negrescu tells RFI. The PSD has refused to urge its supporters to vote for Nicusor Dan in the May 18 presidential election, but Social Democrat MEP Victor

Radu Magdin

@radumagdin

Thank you, Magda/ Spotmedia - What does the urbanization of Romania announced by Simion mean? What scares investors and how Nicusor Dan's performance can be improved - Interview https://t.co/ltvrPR266Q https://t.co/oRYAZ5lap4