Even before the crisis, the Romanian macroeconomic equilibria were very fragile. Now Romania needs a set of measures to relaunch the economy and put it on a better footing for the future.
Erdogan administration officials are working around the clock trying to convince the world the currency can defy gravity. Nothing adds up in their favour. The worry is that they will end up trying to defy voters instead.
Multiple financial fires raging across Central and Eastern Europe could have been put out had EU institutions responded sooner to the populist lawfare banks have been put through over the past few years.
What is behind the magic of high numbers of anti-crisis programmes to combat the economic fallout from COVID-19? Some CEE countries can afford policy responses like developed markets as their central banks kick-start QE support programmes.
Governments that failed to rise to the crisis — through denial, dismissing the dangers or simply incompetence, resulting in unnecessary deaths and economic hardship — should fear their day of reckoning.
Government media point finger at foreign market players as Turkish currency falls to all-time low. Banking watchdog issues wide-ranging regulation on manipulative trading. Critics say it has no parallel anywhere else in the world.