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The real role of the EU conditionality in shaping successful transitions in post-communist Europe

Post-communist countries emerged from the Soviet hegemony with fairly heterogeneous economic and political backgrounds. Disregarding the former Soviet republics with their inner differences – due mainly to their status in the Soviet Union as well as development prior to the sovietisation – two groups of states may be recognised in Central and Eastern Europe (CEE): the so-called northern and southern tiers.

Countries from the northern tier had not only a clearly better prospect of accession to the European Union but also coped better with the transition from centralised economies and one-party regimes. This led to a broad assumption of the positive effect of the European Union on the transition process. Some neglected inconsistencies between the visible correlation and actual causality must however be drawn. Read More…

Own currency didn’t help the Czech economy during the crisis

EUR/CZKJust few days ago, Petr Nečas, the Prime Minister of the Czech Republic, declared that the floating exchange rate helped the Czech Republic to handle the recent crisis (FT). It would be really intriguing to know, whether he was analysing a briefing for Richard Nixon from 1973, or he actually looked at what happened between the Czech crown and Euro in last years. Read More…