The Deep and Comprehensive Free Trade Area (DCFTA) negotiations between the European Union and Ukraine began in 2018, after the country joined the World Trade Organisation (WTO). Despite having started on the wave of the Orange Revolution of 2003-2004, they were continued, or even accelerated, by President Viktor Yanukovych, who was elected in 2010 and is known for his pro-Russian. Continue reading Finalising the DCFTA is Expected to Bring Multiple Benefits to Ukraine
At the start of 2015, Switzerland ended a cap on the value of the Franc relative to the Euro. Before this, it had been pegged at 1.20 Swiss Francs for one Euro. After the cap was removed, the Swiss Franc increased in value against the Euro by 30 per cent. The currency increased by 25 per cent in value against the United States dollar, also. However, this change in valuation has the greatest impact on nations with weaker economies, whose citizens borrowed heavily in Swiss Francs at the old exchange rates. Continue reading Examining How a Strong Swiss Franc Could Single-Handedly Topple Poland’s Economy
When I first came to Romania in 1990, the revolution had just finished. Ceausescu was dead and the political classes were forming into parties. That was 27 years ago. Even in 1990, people were on the streets, elated by what had been achieved. The then Government party was the party which eventually morphed into the Social Democratic Party (PSD).
Despite its natural beauty spots and historical sites, Belarus isn’t a top tourist destination. As a matter of fact, it has been one of the least visited countries in Europe. Unfortunately, Belarus remains unknown to both foreign tourists and large-scale international business, primarily because of its visa regime. However, this is expected to change now, as Belarus is striving to overcome this stereotype and 12 February 2017 marks the important day when the visa regime changed. Continue reading Will the New Five-day Visa-free Regime Encourage More Visitors to Belarus?
In the current geostrategic environment, it is impossible to divorce political development from economic development. The prospects for the global economy and, by implication, for individual economies are intricately driven by significantly changing and unpredictable geopolitical trends. Continue reading European Volatility Makes Economic Development Slower for Ukraine
“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidise it.” The words of US President Ronald Reagan are still a useful shorthand to understanding government’s approach to the economy, even after the economic changes of the last thirty years. Continue reading The Morawiecki Plan Promises a Brighter Future for Poland
Across 62 economies around the world, more than two-thirds of the adult population believe that entrepreneurs are well-regarded and enjoy high status within their societies. At the same time, Europe has the lowest belief in entrepreneurship as a good career choice — 58 per cent. Positive perceptions about entrepreneurship as a career choice range from 40 percent among the Finns and Swiss, to 78 per cent for the Netherlands. Continue reading A Positive and Modern View of Entrepreneurship
In his autobiographical and excellent overview of culture and society in Europe at the turn of the 19th and 20th centuries, ‘The World of Yesterday’, the Austrian writer Stefan Zweig showed how quickly the categories and concepts that describe the world around us can become obsolete. The lead up to World War I and the 1920s were separated by a mere decade, but when viewed in retrospect, these two decades seem to have little in common. For Zweig, writing in 1940, that entire bygone world was nothing more than an implausible legend. Continue reading Prepare for a New Europe
The Statistics Office of Poland has just announced that GDP growth in 2016 was 2.8 per cent, which is quite a decent result, by European standards, as the EU Commission estimates only eight (out of 28) EU countries are expected to grow faster, with the Block’s forecasted average being below two per cent. Continue reading Poland’s Confusing GDP Growth
During the summit marking the 25th anniversary of the Maastricht Treaty, in December 2016, the president of the European Commission, Jean-Claude Juncker, called for a move forward with a two-speed Europe and also for the creation of a different orbit for those EU Member States who do not wish to take part in all facets of EU integration. If implemented, this approach will have far-reaching consequences for the CEE region, especially for the countries of the Visegrad group (the Czech Republic, Hungary, Poland, and Slovakia), which could effectively be side-lined in a two-speed Europe. Continue reading Will a Two-speed European Union Side-line the Visegrad Four?
Those who follow the ups and downs of Ukraine’s economy cannot help but ask one obvious question — what is the “cause” behind all this “effect”? While the obvious disconnect between the economic data and market performance is sometimes baffling, we need to listen closely to the sources that matter more, such as the International Monetary Fund (IMF), the US Department of State, etc. and less to those that matter less — the Ukrainian Ministries of Economy, Finance, and the Central Bank, etc.). Continue reading Ukraine’s Economy in 2017 — When Dreams of Growth Meet Geopolitical Reality
When it joined the European Union in 2004, Poland was obliged to adopt the Euro (providing the country meets the Maastricht criteria) in the same manner as the other nine new member states and the three which entered the Block in 2007 and 2013 — at some undefined point in the future. Since then, the Baltic countries, Slovakia, Slovenia, Cyprus and Malta have all changed their national currencies, but Poland, the Czech Republic, Hungary, Romania, Bulgaria and Croatia have not yet done so. Continue reading Poland: Is it Ready, and is it Time to Adopt the Euro?