Euro adoption: lessons from Latvia

Nine months after Latvia introduced the euro, the country has seen a number of benefits: the common currency has significantly lowers the international transfer fees and conversion fees, Latvia uses a global reserves currency which helps remove devaluation risks, the country’s rating has improved and it is now able to take part in the European Monetary Union’s decision process. The Bank of Latvia is also expecting other benefits in the foreign investment area.

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Poland and the Eurozone: It’s time

“The zloty fulfilled its goal in the time of that crisis but should there be another earthquake around Poland, being outside the Eurozone would be particularly dangerous for the country, its inhabitants and economy. Should we have another typhoon in Europe, similar to the one after the collapse of Lehman Brothers in 2008, we wouldn’t be able to survive even though we are part of the European Union because we’re not in the Eurozone,” says Janusz Piechociński, Poland’s Deputy Prime Minister and Minister of Economy.

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Special Economic Zones staying strong

Since the 14 special economic zones were set up across Poland almost two decades ago, the country has attracted foreign and domestic investments of more than €20 billion and created about 250,000 new jobs. Now, the government wants to update the areas included in the zones and attract as much research and development investment as possible.

To EU or not to EU: A possible turbulence in the CEE region

One never knows how things will develop, says James Roaf, Senior Regional Resident Representative of IMF, discussing changes on the CEE geopolitical scene with Why Emerging Europe, including Russia’s annexation of Crimea and CEE’s history of legacy risks. Roaf argues that it is imperative for countries of CEE to repair their fiscal policies through structural reform, dealing with high debt levels and controlling the exposure to unpredictable foreign investment in order to create a healthier business climate and better economy.