Romania is a south eastern European country. It borders Bulgaria, Hungary, Moldova, Serbia and Ukraine. The end of communism in Europe began spontaneously in 1989. The Romanian revolution of that year culminated with the execution of Nicolae Ceauşescu, a Romanian communist politician and leader, and his wife Elena.
Austerity policies which were introduced in the 1980’s may have been a factor, supposedly to pay foreign debt although previously the country had a good economy reported to be growing at one of the fastest rates in the world. There is a belief that Romania was a victim of exploitation.
The treaty of Bucharest, 1913 marked the end of sovereignty for Romania. Communist rule began in 1947 with a reported coup, deposing Michael I, who’s cousins are said to be both queen Elizabeth II and her husband, who formerly held the title of prince of Greece and Denmark.
In 2004 OMV Austria acquired 51% of Romanian Petrom, said to be the largest acquisition in their history. OMV are now thought to be market leaders in central and eastern Europe. Romanian Petrom is listed as a subsidiary. OMV’s net income in 2017 was reported to be 853 million euros.
Despite Romania being one of the best performing economies in Europe in 2017, it remains mainly underdeveloped. It has been criticised by the world bank for not allocating its resources to politically connected contingents: Supposed land reforms after 1989 are reported to have constituted the allocation of small farms to people who fought on the side of the, as called national salvation front who seized power after the death of Nicolae and Elena Ceauşescu, both who died by firing squad.
The prime minister of Romania since 2018 is Viorica Dăncilă who is said to be head of government, although the president represents the country internationally and the judiciary being independant of both the executive and legislator.