Perspectives on Economic Crisis in the Region
According to Michelle Walker, executive director of world policy insitute, many of the countries in Eastern Europe are vulnerable to unrest given the halt in high growth in these countries over the past few years. These have resulted in short-sighted solutions to the problem. Walker cites the example of Russia implementing high tariffs on imported used cars. Yet, these “temporary solutions” may place European countries in a worse position in the long run. They have the ability to halt growth, make the crisis worse, diplomatic and trading ties between countries. Walker also alludes to the possibility of there being many more individual protests in many different countries within the region at once.
Already, there have been protests throughout the region, including Hungary. See past posting for more information.