14 Dec Money Talks #1

MoneyTalks is a new project started by the MoneyFEST Committee. Every week we will highlight the most important and relevant economic news, both national and international. We hope that the following article will help you understand and discover events you were not aware of, or deepen your understanding of already known topics.

The New 20 RON Bill
Romania has a new 20 RON bill that will go in circulation from the 1st of December 2021. Over 30,000 bills will be in circulation starting with this date. The new 20 RON bill will have the face of the WW1 hero Ecaterina Teodoroiu, who fought and died on the battlefield. This will be the first bill to have the face of a woman on it in Romania. The governor of the Romanian bank, with the occasion of the release of this bill, held a little history lesson. This reminded people that in the 1900 you could have bought 83kg of bread with 20 RON, a drastic difference from now, in 2021 where you can only buy 4kg of bread. (Sebastian Stoenoiu)

Energetic crisis in Europe would be a threat once winter sets in
The prices of energy broke record after record this winter and things are taking a turn for the worse. Some countries are starting to store energy for themselves which could result in other countries lacking energy and experiencing a very cold winter. The price of natural gasses and energy is already skyrocketing and the arrival of the new Covid-19 variant, Omicron, is not making things easy for the exporters. Specialists warn that if the temperatures keep decreasing the demand will increase and the deposits of gas and energy will drop to zero. There is a so-called principle of solidarity that would prevent any state from blocking exports of gas and electricity and allow another state member to face supply difficulties. (Sebastian Stoenoiu)

European stock market collapse
The main European stocks registered significant decreases this Friday, 26 Nov 2021, being affected by the discovery of the new variant of the virus SARS-CoV-2. The Paris stock decreased 4.40%, when in London and Frankfurt the index showed a 3,31% and 3,19% decrease. The new variant of the virus was discovered in South Africa and according to the scientist, it has a very high rate of spreading. Some European states like UK, Italy and Germany banned the access for travellers from South Africa, causing the decrease of stocks the traveling companies Lufthansa and Airbus have. (Also the stock sales in Asia pushed global stocks to their worst week since early October.) (Maria Rondolean)

In August 2021 the Romania ‘King of Roma’ launched a new cryptocurrency called Gypsycoin. This was created to finance social and cultural programs for the Roma community and to fight against discrimination. Gypsycoin is an inclusive organisation open for everyone that shares the same moral values and ideals. In September, the value of the coin rose by 1000% in just one week. Gypsycoin’s goal is to reach the value of one dollar. Unfortunately, after August the cryptocurrency started to decrease and reached $0,000006, 30 times less than at the beginning. (Maria Rondolean)

AUTHORS: Students from MoneyFEST Committee

Lavinia Bălulescu

Journalist, Content Creator

Lavinia Bălulescu

Journalist, Content Creator

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