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Unlike many Western economies, Romania lacks a standardized credit scoring system, making access to credit more complex for both businesses and consumers. While institutions like Biroul de Credit track repayment history, there is no widely accepted numerical credit score akin to FICO or VantageScore. Instead, banks rely on factors such as employment contracts, salary history,…
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Romania, like many post-communist societies, has experienced significant socioeconomic shifts over the past three decades. The transition from a centrally planned economy to a market-driven system created new class divisions and redefined existing social structures. Within this evolving framework, the concept of parastratification – the movement, interaction, and relationship-building across socioeconomic strata – has become…
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Romania’s Odd Skepticism About High Salaries, or How to Talk About Money in a Post-Communist Society
If you’ve spent any time in Romania, you might have noticed something peculiar: many locals find it hard to believe when someone claims they have a high salary. This reaction stems from more than mere curiosity. It ties into broader cultural and historical themes – including the lingering air of resignation we touched on in…
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Romania has undergone dramatic shifts since the collapse of communism in 1989, yet an undercurrent of resignation still shapes public sentiment. Despite the country’s membership in the European Union and gradual economic growth, many Romanians feel that genuine success – be it professional, financial, or personal – is more achievable abroad. This sentiment, which I…
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Global connectivity has made it easier than ever to work from virtually anywhere, identifying which countries present the best opportunities – especially in emerging economies – can be both exciting and daunting. Traditional measures like GDP or average income only scratch the surface when deciding whether to relocate or launch a venture abroad. This article…