G20 and Emerging Europe: Is There Anything Left for the EU to Do?
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Vladimir Gligorov and Michael Landesmann
wiiw Policy Note/Policy Report No. 3, April 2009
5 pages
This piece argues that three specific policy issues need to be addressed urgently in Central, Eastern and Southeastern Europe in order to avoid a sustained period of recession or depression: (i) orderly exchange rate adjustment (ii) fiscal stress and (iii) financial sector vulnerability. The G-20 Declaration supports significantly the role of the IMF in the current crisis, but there is a need for an additional determined effort by the EU.
Countries covered: Visegrad countries, European Union, New EU Member States, SEE