JPMorgan said on Monday that an election win by Romania's centrist Bucharest mayor Nicusor Dan is reducing political risk ahead and that a sovereign ratings downgrade to below investment grade was now less of a concern.

As of midnight on May 18th Romania’s election authorities reported he had taken 54% of the vote to Mr Simion’s 46%. The turnout was a record for a Romanian presidential election. The country’s enormous diaspora,

The two candidates in Romania’s presidential election runoff are neck and neck, early preliminary electoral data shows, in a high-stakes vote between a hard-right nationalist and a pro-European Union centrist that could determine the geopolitical direction of the NATO member country.

From presidential runoffs to snap parliamentary votes, these elections come at a time of heightened political tension, economic uncertainty, and shifting alliances within the European Union

Ultranationalist candidate George Simion has a big poll lead ahead of Sunday’s Romanian presidential election. He’s sought legitimacy from foreign leaders like Donald Trump and Giorgia Meloni, showing how the far right is increasingly the establishment.

Sunday’s presidential election in Romania could have significant implications for NATO and the European Union if the ultranationalist candidate wins.