George Simion, the far-right AUR candidate, won over 40% in the first round of the Romanian presidential election, leading to the resignation of Prime Minister Marcel Ciolacu and creating political chaos. The main question is whether Nicusor Dan, the mayor of Bucharest, can defeat Simion in the second round. The resignation is bad news as Romania struggles with the highest budget deficit in the EU, and it reduces the chances of unpopular corrective measures being accepted. The market reacted immediately, with the leu dropping 2% against the euro, suggesting the Romanian central bank has lost control over the currency. The bond market also reacted sharply, with ten-year Romanian yields rising significantly. Teljes cikk (Portfolio.hu)