The exchange rate announced by the National Bank of Romania on Friday, June 17, 2022 is valid for all transactions at the NBR exchange rate on Saturday, Sunday and Monday, June 18-20, 2022.
PNR study. According to data sent by BNR, the euro reached 4.9472 li, after rising 0.0029 against the Roman liu (RON).
PNR study. The US dollar reached 4.7049 li, down 0.0415 li.
PNR study. The Swiss franc rose 0.0298 li to 4.8722 li.
PNR study. The pound is up 5.0199 lee at 5.7805.
PNR study. The Bulgarian lev was reported at 2.5294 lei, an increase of 0.0014 lei.
PNR study. The new Turkish lira depreciated by 0.0016 lei to 0.2716 lei.
PNR study. The price of a gram of gold rose to 279.7742 lei, up 0.5241 lei on Friday.
“Mother of storms”
War, competition for economic and geopolitical supremacy, epidemics and the incurable wounds of the global financial crisis have created economic storms on every continent where people live. Together they will create the mother of the storm. But the great storm will not come soon. Meanwhile, the world itself is beginning to wander in fear. Fear and hatred give birth to monsters. First, in the United States, the world’s largest economy, inflation is so strong that the world’s strong central bank is ready to sacrifice the economy to curb inflation. Inflation is new there. The weapon used is the rise in interest rates, and last but not least – by three-quarters of a percentage point, the size of the United States is huge for the economy. The biggest fear is the recession. The optimistic idea that the central bank will gradually take small steps to bring the economy back to balance has proven to be imaginary. Social security nets in the United States are thin. Much thinner than the EU. The recession caused by the global financial crisis in the United States signifies job destruction, unemployment, inequality and social unrest. The bitter aftermath of the crisis brought Donald Trump, a fan of Russian President Vladimir Putin and a troublemaker of the Western world order, to the White House. Trump expelled allies of the United States. The irony is that the resolute struggle of the central bank and the administration of President Joe Biden will bring the recession to the United States and cause him to lose his second term. Trump is lurking and warming spirits. Mediafax writes that even the central bank has not promised that the recession will not come.
In Europe, the European Central Bank is just now engaged in the fight against inflation. The fight is to drop a mechanism to protect vulnerable eurozone economies and reduce the financial costs of countries such as Italy, Greece, Spain and Portugal. At the first signal of the war on inflation, Italy’s financial spending soared, raising fears that a new debt crisis was imminent. When the fear spread, the ECB acted immediately and announced a new security mechanism.
Until the euro crisis, the energy crisis
But until the next euro crisis, Europe faces an energy crisis that quickly turns into a cost-of-living crisis. Everything in the euro area and in the EU is rising in price. For countries like Estonia, this price is acceptable if the defense against Russian occupation. There, in Estonia, a country of less than 1.5 million people, there is a great deal of fear that the country will be trampled by Russian tanks. As for Germany and France, Russia’s war in Ukraine is still a long way off. The fears in Eastern Europe are incomprehensible. Berlin has regarded Moscow as a reliable partner for decades. The same is true of Paris, which has a romantic picture of Russia and communism. The war changed things for Europe’s largest economic powers. However, the fear of war was weaker than the nostalgia of trade with the lost Russians. For example, the NGO Global Witness claims that Wintershall, a large German gas company in Germany, a subsidiary of the giant BASF, has shipped 14 billion euros worth of Russian natural gas across the country. EUobserver reported. The deal – a partnership with Gosprom – brought him a profit of 400 million euros, although the German business promised not to make money for Russia. Gosprom is a tool used by Moscow to convert its natural gas into cash for a war machine trying to seize Ukraine. A few days ago, Gasprom announced that it would reduce gas exports to Germany through the North Stream flagship (Russia-German friendship and EU fragment).
“Some have already chosen that the war in Ukraine is not theirs.”
In Eastern Europe, there is no doubt that the Hungarian government is acting in the interests of Russia and the ruling party. Weakening the EU or isolating the country is using the Fidesz party to strengthen its control over the economy and society. Big businesses with the state are catered to loyal customers of the party. Russia’s gas and money make life more comfortable for Fidesz. Bulgaria has a vague attitude towards Russia. What is happening in the political arena now also explains the reason for that. New Prime Minister Grill Petkov, a pro-EU politician, has taken a tough stance on Moscow. He fired Foreign Minister Stephen Ianov after describing the Russian invasion of Ukraine as a “special operation” used by the Kremlin. Meanwhile, the Financial Times writes that Petco’s coalition has lost a majority in parliament over controversy over EU expansion. Ianev is a new party, nationalist and ready to return to pro-Russian positions. Bulgarian nationalists do not want Albania and Macedonia to join the European Union. The political crisis could prevent Bulgaria from joining the eurozone. In other parts of the world, another fear is emerging that the developing world will be shaken by the debt crisis. Sri Lanka is in crisis. Coming to Laos? For China, America’s main rival for world domination, fears have led to the withdrawal of capital from banks and appears to be strengthening President Xi Jinping’s control. Following the outbreak of the Govt-19 epidemic in China, the Communist Party adopted the Govt-0 policy. While Western nations were more lenient in dealing with the disease, Beijing authorities closed international ports and isolated large cities like one country. Economic centers, exacerbating global shortages. Some analysts believe Beijing is raising its shields and preparing the ground for the Taiwan invasion. The Russian recipe seems to be effective: in times of crisis a war exacerbates the crisis. Will Europeans and Americans accept less money, less consumers, less waste for the independence of countries that have not yet cared much about themselves? Some have already chosen that the war in Ukraine is not theirs.
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