from day 16/02/2021

Why are Romanian cars and real estate priced in euros? A particular case of Thiers’ Law

In contemporary Romania, the prices of real estate (sale or rent) and cars are expressed in euros, even though most transactions involve lei (singular leu, the national currency). Sometimes wages and contracts are also settled in euros, and people often think of how much they are earning in euros despite the fact that actual payments are in the national currency. Why is that?

...

Read More