Romania's European allies and markets welcomed centrist Nicusor Dan's presidential election victory over the eurosceptic hard-right on Sunday, relieved that the European Union member avoided a lurch to a Donald Trump-inspired political path.

Romanian centrist Nicusor Dan may have defied the odds to win the presidency, but now he faces an even more daunting task: forming a government that can implement years of painful austerity - and revenue-raising measures - to tame Europe's widest fiscal deficit.

U.S. President Donald Trump’s tariff offensive has led European officials to cut their growth forecasts for this year and next, even in a best-case scenario in which the highest rates on most goods co

The European Union scaled back its forecast for growth in 2025 by nearly half a percent, as the jump in tariffs and surrounding chaos bite.