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Romania’s election marathon

Three elections in three weeks will likely preserve the status quo

November 18, 2024

8 min read

November 18, 2024

8 min read

Just a few days before Romania begins a three-week electoral marathon, there’s little sign of political fervour on the streets of the country’s capital, Bucharest.

Campaign rules mean that the faces of the various candidates hoping to become Romania’s new president—faces which for months, before the campaign began, dominated the country’s billboards—have all but disappeared. Only a few small posters in specially-designated places betray the fact that Romanians will soon vote on three consecutive Sundays.

Nor is the ordinary Romanian particularly concerned with the forthcoming elections. During a brief wintry shower last weekend (increasingly rare in these parts) a long queue of drivers was waiting patiently at an auto repair shop to change their summer tyres for winter ones. Talk was of the rising cost of changing tyres, not the elections.

Of eight people asked about their voting intentions in the most unscientific of polls, only two said they would definitely be voting. A couple had no idea which election came first: presidential or parliamentary.

Three weeks, three elections

On November 24, Romanians vote in the first round of presidential elections. Unless one of the 14 candidates manages to gain more than 50 per cent of the vote (highly unlikely), a run-off, between the two leading candidates from the first round, will be held a fortnight later.

Sandwiched in between, on December 1, is the parliamentary election.

Favourite to become Romania’s next president (the incumbent, Klaus Iohannis, is coming to the end of his second term and cannot run for a third) is the country’s prime minister, Marcel Ciolacu.

Leader of Romania’s largest party, the Social Democrats (PSD), Ciolacu will benefit from the PSD’s well-oiled electoral machine that usually ensures its supporters turnout in large numbers. Polls, largely unreliable in Romania, give him a nevertheless (probably) accurate 25-30 per cent of vote.

Who will face Ciolacu in the run-off is less clear. Most polls suggest that George Simion, leader of the far-right Alliance for the Union of Romanians (AUR), will contest the second round. Ciolacu would certainly prefer to face a far-right candidate—only once in the last 30 years has the PSD won the presidency, in 2000, when Ion Iliescu defeated the far-right’s Corneliu Vadim Tudor.

Indeed, that Ciolacu would almost certainly defeat Simion has led to suggestions that last month’s decision by the country’s constitutional court to bar another far-right candidate from standing, MEP Diana Șoșoacă, was politically motivated. The court ruled that Șoșoacă, openly pro-Russia, would put Romania’s membership of both the EU and NATO in jeopardy.

While Șoșoacă stood little chance of making the second round of voting, her presence on the ballot would have split the far-right vote, opening the way for either Elena Lasconi, leader of the broadly progressive Save Romania Union (USR) or, perhaps, Mircea Geoană, a former PSD leader, most recently deputy secretary-general of NATO, running as an independent. Both would at the very least give Ciolacu a run for his money.

Another candidate, Nicolae Ciucă of the Liberal party (PNL), which currently governs Romania in coalition with the PSD, is deeply unpopular and stands little chance of causing an upset. Ciucă has been widely derided for campaigning on an anti-PSD platform while simultaneously sharing government with the same party.

Geoană’s campaign too has failed to pick up any real steam, meaning that if Simion is to be beaten into second place, it will be Lasconi (whose more conservative positions on issues such as LGBT+ rights and abortion have at times put her at odds with her party) who does so. Most people, however, appear resigned to a Ciolacu-Simion run off, and a subsequent Ciolacu victory.

A campaign short on policy

A parliamentary republic, Romania’s president has little real power, although he (or she) does appoint the country’s prime minister and represents Romania on the European and global stage, such as meetings of the Council of the European Union.

Iohannis’s predecessor, the combative Traian Băsescu, also used the position to set the country’s political agenda. Iohannis, elected in 2014 on a wave of hope for real change, quickly became content merely to enjoy the luxuries of office, and has rarely rocked the boat.

A Ciolacu presidency will likely change little, and, given that the make-up of Romania’s parliament will broadly remain unchanged post-December 1, neither would a Lasconi presidency.

As such, there has been precious little talk of policy during the election campaign, which has at times resembled a non-event.

Both Lasconi and Geoană have made vague pledges to reform Romania’s enormously bloated and highly-centralised state apparatus, devolving some power to its regions, but without parliamentary majorities to back them, doing so would be all but impossible.

The only candidate to make any real promises has been Simion, most of them populist and impossible to keep. He has at various times promised Romanians cheap apartments, lower mortgage rates, and massive tax cuts.

As you were

That the PSD will win the parliamentary election, with around 30 per cent of the vote, is not in doubt. Second place is up for grabs, however, with AUR, USR, and PNL all vying for position. One poll last week gave AUR (20.7 per cent) a healthy lead over both the PNL (16.2 per cent) and USR (12.7 per cent), but the race is almost certainly tighter.

As president, Ciolacu would like to see the current PSD-PNL coalition remain in office—preferably with a PNL prime minister, at least initially, given that the government will introduce major tax rises in 2025 to deal with Romania’s spiralling budget deficit, forecast to top eight per cent by the end of this year. The only major issue on which the two parties genuinely disagree is whether Romania should keep its flat tax rate (the PNL preference) or introduce progressive taxation (the PSD choice). Both accept that taxes need to rise, however, as both are equally reluctant to cut public spending.

The incoming government will also face sluggish growth (now forecast by the European Commission at just 1.4 per cent in 2024) and the EU’s highest rate of inflation, almost five per cent. It’s not only the price of changing tyres that is rising fast.

However, the parliamentary maths might make such a coalition impossible, given that there is no guarantee the two parties will, combined, take a majority of seats. Much could depend on how many smaller parties make the five per cent parliamentary threshold. Besides PSD, PNL, and USR, Șoșoacă’s SOS Romania (which has been allowed to field candidates despite its leader’s disqualification) is currently the only other party polling over five per cent.

The UDMR, which represents Romania’s ethnic Hungarian minority, polls just under five per cent but usually finds a way to ensure its supporters turn out in sufficient numbers to make the threshold.

REPER and SENS, more progressive offshoots of the USR, as well as a couple of small right-wing parties, will almost certainly fail to do so. That could mean as many as 15-20 per cent of the seats in parliament will be redistributed to those parties who do make it. That could be enough to give the PSD-PNL a majority, perhaps with the always compliant UDMR co-opted to make up any shortfall.

A government averse to change

A continuation of PSD-PNL is few people’s idea of an ideal government. Its fondness for the stagnant, if stable status quo that suits both parties deprives Romania of any impetus for real reform. It will continue to ensure its base of pensioners and civil servants is well looked after, with the private sector expected to fund the deficit.

Creaking infrastructure, such as the failing health service and Romania’s achingly slow railways, will go largely unimproved, although recent movement on motorway construction (pushed by the need to develop better links with Ukraine) should continue.

A once promising (if poorly executed) campaign to streamline and digitalise public services has ground to a halt in recent years, and is unlikely to be a priority again any time soon for a government averse to change. That neighbouring Moldova (and, indeed, war-torn Ukraine) has greatly surpassed Romania in its digitalisation of public services speaks volumes.

On foreign policy Romania will continue to quietly support Kyiv in its fight against Russia’s invasion while boosting its own military capabilities as an increasingly key player on NATO’s Eastern Flank. A Ciolacu presidency could see Romania take a friendlier approach towards China, however.

The nightmare scenario

For all its faults, a renewed PSD-PNL coalition is far better than the nightmare scenario of AUR—which would immediately seek to end support for Ukraine and make Romania an EU pariah, along with Hungary—taking cabinet posts in a coalition with PSD.

Ciolacu has repeatedly stated publicly that there is no PSD-AUR alliance, and that there never will be, but few believe him. This week he defended Simion, saying that the AUR leader is, “not a Russian spy”.

If Ciolacu keeps his word and rejects any AUR advances, but PSD-PNL fail to ensure a majority (with or without UDMR), then another election early next year would be possible. The only other option to make up the numbers, USR, would never govern with PSD.

Yet another election, and the ensuing instability, could hurt the economy further. But with turnout likely to be poor (the parliamentary election falls on a national holiday, and many Romanians will be away for the weekend), nothing about the parliamentary election—except the PSD being the largest party—can be taken for granted.

That, at least, in this dullest of election campaigns, provides a modicum of interest.

Craig Turp-Balazs

Craig Turp-Balazs

Craig Turp-Balazs is head of insight and analysis at Reinvantage.

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Case study: Global technology company

1. The Client

A global technology company operating across EMEA, with a regional HQ in Istanbul. The company manages 20+ markets, handling everything from brand campaigns to strategic partnerships.

Role we worked with: The EMEA Head of Marketing (supported by two regional managers).

2. The Challenge

Despite strong products and a respected global brand, the regional team was struggling with:

  • Misaligned strategy across markets → campaigns executed with inconsistent narratives.
  • Slowed growth → lead generation plateaued despite increasing spend.
  • Internal friction → marketing, sales, and product teams disagreed on KPIs and priorities.

Traditional fixes (more meetings, more reporting) only created more noise.

3. The Sprint

We ran a 10-day Remote Reinvention Sprint with the regional HQ team.

  • Day 1–3: Intake → Reviewed decks, campaign data, and plans.
  • Day 4: Sprint Session (90 mins) → Breakthroughs:
    • Sales and marketing had different definitions of “qualified lead.”
    • 40% of spend was going into low-potential markets.
    • The team assumed the problem was lack of budget, but it was actually lack of alignment.
  • Day 5–10: Synthesis → Insights distilled into a Clarity Brief + Insight Canvas.
4. The Breakthrough

The Sprint uncovered that the issue wasn’t budget, but fragmentation.
Three sharp insights unlocked a way forward:

  1. Unified KPIs bridging marketing + sales.
  2. Market prioritisation → shifting budget to 5 high-potential markets.
  3. Simplified narrative → one EMEA core story, locally adaptable.
By just realigning resources and focus, the client could unlock an estimated £250,000 in efficiency gains within the next 12 months — far exceeding the Sprint’s value guarantee. The path to higher returns was already inside the business, hidden by misalignment.
5. From Sprint to Action (4 Pillars Applied)

With clarity secured, Reinvantage didn’t suggest “more projects.”

Instead, we used the Sprint findings to create laser-focused next steps — drawing only from the areas that would deliver the most impact:

  • Readiness → Alignment workshops for sales + marketing teams. New playbooks clarified “qualified lead” definitions and reduced internal disputes.
  • Foresight → A market-opportunity scan identified which 5 countries would deliver the highest ROI, removing the guesswork from allocation.
  • Growth → Guided the reallocation of €2M budget and designed a phased rollout strategy that protected risk while maximising return.
  • Positioning → Built a messaging framework balancing global consistency with local nuance, ensuring campaigns spoke with one clear voice.

Because the Sprint had stripped away noise, these actions weren’t generic consulting ideas — they were directly tied to the breakthroughs.

6. The Results
  • +28% increase in qualified leads across the region.
  • 30% faster campaign rollout due to streamlined approvals.
  • Budget efficiency gains → €2M redirected from low-return to high-potential markets.
  • Internal cohesion → marketing + sales now use a single shared dashboard.
The client came in believing they needed more budget.
The Sprint revealed that what they really needed was clarity and alignment.

With that clarity, the four pillars became not theory, but practical tools to deliver measurable impact.

The Sprint guaranteed at least £20,000 in value — but in this case, it helped unlock more than 10x that within six months.

Case study: Regional VC fund & accelerator

1. The Client

A regional venture capital fund and accelerator focused on early-stage tech start-ups in the Baltics and Central Europe.

The fund had raised a new round and was under pressure to deliver stronger returns while also building its reputation as the go-to platform for founders.

Role we worked with: Managing Partner, supported by the Head of Portfolio Development.

2. The Challenge

Despite a promising portfolio, results were uneven.

Key issues:

  • Scattered portfolio support → no consistent playbook for start-ups, every partner did things differently.
  • Weak differentiation → founders and co-investors saw the fund as “one of many” in the region.
  • Stretched team → too many small bets, not enough clarity on which companies to double down on.

The leadership team knew something was off, but disagreed on whether the issue was pipeline quality, market conditions, or internal capacity.

3. The Sprint

We ran a 10-day Remote Reinvention Sprint with the partners and portfolio team.

  • Day 1–3: Intake → Reviewed pitch decks, pipeline funnel data, and start-up performance reports.
  • Day 4: Sprint Session (90 mins) → Breakthroughs:
    • No shared definition of a “high-potential founder.”
    • Support resources were spread too thin across the portfolio.
    • The fund’s positioning was more reactive than proactive — it didn’t own a distinctive narrative in the market.
  • Day 5–10: Synthesis → Insights consolidated into a Clarity Brief + Insight Canvas.
4. The Breakthrough

The Sprint revealed that the challenge wasn’t pipeline quality — it was lack of focus and positioning.

Three core insights provided the turning point:

  1. Portfolio Prioritisation Framework → defined clear criteria for where to double down.
  2. Founder Success Playbook → standardised support model for portfolio companies.
  3. Differentiated Narrative → repositioned the fund as “the accelerator of reinvention-ready founders.”
These shifts alone gave the fund a path to add an estimated £2M+ in portfolio value over the following 18 months, by concentrating capital and resources where they could move the needle most.
5. From Sprint to Action (4 Pillars Applied)

With clarity from the Sprint, Reinvantage created a tailored support plan:

  • Readiness → Coached partners on using the new prioritisation framework and trained the team on deploying the Founder Success Playbook.
  • Foresight → Ran scenario analysis on regional tech trends, helping the fund anticipate where capital would flow next.
  • Growth → Guided resource reallocation across the portfolio and supported new co-investor pitches for top-performing start-ups.
  • Positioning → Crafted a sharper brand story for the fund, positioning it as the reinvention partner for globally minded founders.
6. The Results
  • 10 portfolio companies onboarded to the new Playbook → greater consistency of support.
  • Raised follow-on capital for 3 top start-ups with the new prioritisation framework.
  • +26% increase in inbound deal flow from founders citing the fund’s new positioning.
  • Stronger internal cohesion → partners aligned on where to focus resources.
The client thought the problem was pipeline quality.
The Sprint showed it was actually lack of clarity and focus inside the firm.

By applying the four pillars, Reinvantage helped turn scattered effort into concentrated value creation.

The Sprint guaranteed at least £20,000 in value; here it set the stage for multi-million-pound upside in portfolio growth.

Case study: International impact Organisation

1. The Client

A large international impact organisation focused on entrepreneurship and economic empowerment.
The organisation runs multi-country programmes across Eastern Europe and Central Asia, often in partnership with global donors and corporate sponsors.

Role we worked with: Senior Programme Director, responsible for regional coordination.

2. The Challenge

The organisation had launched a flagship regional initiative supporting women entrepreneurs, but the programme was underperforming.

Key issues:

  • Fragmented delivery → each country office interpreted the programme differently.
  • Donor frustration → reporting lacked consistency and clear impact metrics.
  • Lost momentum → staff energy was spent on administration rather than scaling success stories.

Traditional programme reviews had produced long reports, but no real alignment or action.

3. The Sprint

We ran a 10-day Remote Reinvention Sprint with the regional leadership team and representatives from two country offices.

  • Day 1–3: Intake → Reviewed donor reports, programme KPIs, and field feedback.
  • Day 4: Sprint Session (90 mins) → Breakthroughs:
    • Donors cared about quantifiable outcomes, but reporting focused on stories.
    • Staff were duplicating efforts across countries, wasting time and resources.
    • The initiative lacked a clear theory of change — everyone described its purpose differently.
  • Day 5–10: Synthesis → Insights distilled into a Clarity Brief + Insight Canvas.
4. The Breakthrough

The Sprint revealed that the issue wasn’t donor pressure or programme design — it was a lack of shared framework and alignment.

Three critical insights reshaped the path forward:

  1. One Unified Theory of Change → agreed narrative for why the programme exists.
  2. Core Impact Metrics → clear, comparable KPIs across all countries.
  3. Smart Resource Sharing → digital hub to stop duplication and accelerate knowledge flow.
By eliminating duplicated reporting and clarifying what success looks like, the client saw they could save the equivalent of £100,000 in staff time annually — while also unlocking stronger donor confidence and follow-on funding opportunities.
5. From Sprint to Action (4 Pillars Applied)

Armed with Sprint clarity, Reinvantage proposed a laser-focused support plan:

  • Readiness → Trained programme leads on using the new metrics and integrated them into existing workflows.
  • Foresight → Analysed donor trends and expectations, aligning the initiative with the next funding cycle.
  • Growth → Developed a funding case based on the new unified theory of change, securing higher renewal chances.
  • Positioning → Crafted a regional success narrative and storytelling toolkit, helping them showcase results consistently across markets.
6. The Results
  • 30% less time spent on reporting → freed capacity for programme delivery.
  • Donor satisfaction improved → positive feedback on the clarity of impact evidence.
  • Secured new funding commitment → one major donor increased their contribution by 20%.
  • Stronger internal morale → staff felt they were working with clarity, not chaos.
The client thought it needed better donor management.
The Sprint revealed it needed a shared foundation across its teams.

By anchoring on the four pillars, Reinvantage turned alignment into efficiency gains and fresh funding opportunities.

The Sprint guaranteed at least £20,000 in value; here it unlocked both six-figure savings and future-proofed funding.

Case study: National digital development agency

1. The Client

A national digital development agency tasked with driving the government’s digital transformation agenda, including e-services, citizen portals, and smart city pilots.

Role we worked with: Director of Digital Transformation, supported by IT and service delivery leads from three ministries.

2. The Challenge

The agency had strong political backing but faced hurdles in implementation.

Key issues:

  • Siloed projects → each ministry developed digital tools independently, leading to duplication.
  • Citizen frustration → services were digital in name, but still required multiple logins and offline steps.
  • Funding pressure → international partners demanded clearer impact in the short term.

The agency wanted to accelerate momentum but struggled to get alignment across ministries.

3. The Sprint

We ran a 14-day Immersive Reinvention Sprint with the agency’s leadership and digital focal points from three ministries.

  • Day 1–3: Intake → Reviewed strategy docs, donor reports, and citizen feedback data.
  • Day 4: Immersive Sprint Session (half-day) → Breakthroughs:
    • Each ministry had different definitions of “digital service.”
    • 20% of budget was going into overlapping pilot projects.
    • Citizens’ top frustrations were known — but not prioritised.
  • Day 5–14: Synthesis → Insights consolidated into a Clarity Brief + Insight Canvas.
4. The Breakthrough

The Sprint revealed that the biggest blocker wasn’t lack of funding, but lack of shared priorities.

Three practical insights stood out:

  1. One Definition of Digital Service → agreed across ministries.
  2. Quick-Win Prioritisation → focus on top 3 citizen pain points (ID renewal, business registration, healthcare booking).
  3. Shared Resource Map → pool budgets to eliminate duplication.
These changes alone allowed the agency to unlock £75,000 in immediate savings and deliver 2–3 visible improvements in the next quarter — meeting donor expectations and building citizen trust.
5. From Sprint to Action (4 Pillars Applied)

Based on the Sprint clarity, Reinvantage proposed a modest, targeted package of support:

  • Readiness → Facilitated inter-ministerial workshops to embed the “one digital service” definition.
  • Foresight → Analysed citizen feedback trends to shape the quick-win roadmap.
  • Growth → Supported the reallocation of funds to joint projects, reducing overlap.
  • Positioning → Crafted a communication plan highlighting early digital wins to donors and citizens.
6. The Results
  • 2 pilot services integrated into the central portal (ID renewal + healthcare booking).
  • Budget savings of £75,000 from eliminating overlapping projects.
  • Citizen satisfaction up modestly → call centre complaints on digital services dropped by 12%.
  • Donor confidence improved → short-term impact report received positive feedback.
The client thought it needed more funding and bigger projects.
The Sprint revealed it first needed clarity and alignment.

By applying the four pillars to a targeted scope, Reinvantage helped deliver visible results within a single quarter — proving progress to citizens and donors and laying the groundwork for deeper transformation.