Irina Vilcu

1 month ago | bloomberg.com | Irina Vilcu |Andra Timu

Nicusor Dan(Bloomberg) -- The ballot numbers added up for Romania’s Nicusor Dan, the one-time math prodigy who defeated a formidable far-right challenger to win the Black Sea nation’s presidency this month. But Dan, the former Bucharest mayor who was sworn in as the country’s head of state on Monday, will confront a wholly different set of numbers as he seeks to narrow what has become the European Union’s widest budget deficit.

1 month ago | bloomberg.com | Piotr Skolimowski |Irina Vilcu

Hi, this is Piotr Skolimowski in Warsaw and Irina Vilcu in Bucharest. Welcome to our weekly newsletter on what’s shaping economics and investments from the Baltic Sea to the Balkans. You can subscribe here. The region’s political mainstream may have won a reprieve in Romania, but pro-European Union forces now face a cliffhanger vote in Poland just as investors thought they might be able to breathe more easily.

1 month ago | bloomberg.com | Andra Timu |Irina Vilcu

Nicusor Dan at the Constitutional Court in Bucharest, on May 22. (Bloomberg) -- Romania’s newly-elected president expects several weeks of negotiations on a new government, saying the key focus needs to be on tackling the budget crisis and avoiding a credit rating downgrade. Nicusor Dan, who defeated far-right candidate George Simion in the presidential runoff on May 18, told reporters he’ll call for talks with the four pro-European groups immediately after he’s sworn in on Monday.

1 month ago | bloomberg.com | Andra Timu |Irina Vilcu

Mugur Isarescu(Bloomberg) -- Romania will weigh further interest-rate cuts only after a return to market and political stability, the central bank chief said, as the election of a centrist candidate to the presidency on Sunday spurred preparations to form a new government. The defeat of a far-right candidate by Bucharest Mayor Nicusor Dan triggered a rally in assets Monday, underscoring relief among investors.

1 month ago | bloomberg.com | Andra Timu |Irina Vilcu

Barna Tanczos(Bloomberg) -- Romania’s finance chief said a new government will need to move quickly to fix state finances even after the election of Bucharest Mayor Nicusor Dan as president helped soothe market turmoil that’s engulfed the Black Sea nation. Finance Minister Barna Tanczos said Romania is “under scrutiny practically ever day” by investors and ratings agencies.