Romania is a country located at the crossroads of Central and Southeastern Europe, bordering on the Black Sea. With the fall of the Iron Curtain and the 1989 Revolution, Romania started a series of political and economic reforms. After a decade of post-revolution economic problems, Romania made economic reforms such as low flat tax rates in 2005 and joined the European Union on January 1, 2007. Romania is now an upper-middle income country with high human development, although within the European Union, Romania's income level remains one of the lowest.
Its capital and largest city is Bucharest, the 6th largest city in the EU with 1.9 million people. In 2007 the city of Sibiu was chosen as a European Capital of Culture. Romania also joined NATO on March 29, 2004, and is also a member of the Latin Union, of the Francophonie, of the OSCE and of the United Nations, as well as an associate member of the CPLP. Romania is a semi-presidential unitary state.
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