International press warns about political instability and financial risks after Romanian poll turnout

The Financial Times said Romania was in turmoil over poll result, pointing out the political uncertainty and the shock waves through Bucharest financial markets, with the 3 percent drop in equities and the slight fall of the Romanian currency against the EUR.  “The outcome leaves recession-hit Romania with a disputed winner as president and with only a caretaker government in office, just when Bucharest faces pressure from European Union partners and the International Monetary Fund for budget reforms,” wrote the FT. The Wall Street Journal too published a piece on the outcome of the elections, mentioning the questions over whether the president will have a strong enough parliamentary mandate to push through the tough reforms needed. The WSJ article also mentioned the financial risk triggered by a delay in forming the government.

Read the FT article here and the WSJ article here.