G20 and Emerging Europe: Is There Anything Left for the EU to Do?

Vladimir Gligorov and Michael Landesmann

No 3, wiiw Policy Notes from The Vienna Institute for International Economic Studies, wiiw

Abstract: 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.

Pages: 5 pages
Date: 2009-04
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Published as wiiw Policy Note

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