WIIW The Vienna Institute for International Economic Studies - Wiener Institut für Internationale Wirtschaftsvergleiche

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wiiw Seminar Series, 'Policy Options for the Post-Crisis Economy in Central, East and Southeast Europe'

The new wiiw seminar series 'Policy options for the post-crisis economy in Central, East and Southeast Europe' is the continuation of the wiiw seminar series 'Crisis management in Central, East and Southeast Europe: What is to be done?'. While most of the areas addressed in the previous seminar series - such as openness of the economy to international trade, the extent of public and private debt, the manoeuvring room for fiscal policy, the exchange rate regime, the share of foreign ownership in the banking system and, last but not least, political economy questions - have remained as relevant as before, important new aspects will be supplemented to the preceding list of issues. In the wake of the Greek crisis, fiscal consolidation in the EU member states is urged by the European Commission more vigorously than before, leaving less time and narrower room for individual member states to elaborate adequate exit strategies from fiscal imbalances induced by the crisis. Non-EU East and Southeast European countries will also have to accommodate to the changing international environment. Certain dimensions of the recent economic and financial crisis have become visible to their full extent only recently, i.e. with a considerable time lag. These are, among other things, the restructuring of labour markets and the social consequences of the crisis. Discussing ways how to cope with these delayed effects will be one of the focal points of the seminar series.