1945

Collapse and transition in Central and Eastern Europe

In less than two years enthusiasm and optimism for the transition of the former socialist countries of Eastern Europe have turned into disappointment and pessimism. As pointed out recently, "for many people in the eastern countries the dominant issue is not so much the transition process' as immediate survival". 154 Neither the people and policy-makers in those countries nor outside experts and international financial institutions foresaw all the troubles that were in store.

Related Subject(s): International Trade and Finance
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