ECONOMICS OF THE NEW MEMBER STATES: A POST-CRISIS PERSPECTIVE

Abstract

This essay addresses four major issues confronting the Central and Eastern
European new members of the European Union in the decade to come. First:
what to think of the financial meltdown of 2008-2009. Second, what have they
learned from the tremors, having shaken the previous star performers of the
EU? Third we ask if we can expect a return to ‘normalcy' as forecast by most
models of financial rating agencies and international financial institutions?
Fourth the question is raised what did the new members benefit from their EU
membership? Some conclusions on the future of EU reforms and policies close
the overview.