What makes an economy resilient? Lessons learned after the 2008 crisis and what it means for today
Since shocks cannot be avoided and are likely to occur more frequently in the future, it is crucial to strengthen economic resilience – “the ability of a country to withstand a shock and recover quickly to its potential [growth] after it falls into recession” – on national and regional levels.Read more
The most profound crisis facing the European Union today is the crisis of democracy in Central and Eastern Europe. Other EU crises such as the refugee crisis or the Eurozone crisis have – at least for the time being – abated, and Brexit has turned out to be more of a costly annoyance for the EU than the existential crisis many had feared. But the crisis of backsliding on the rule of law and democracy itself in some EU member states – particularly in Central and Eastern Europe – shows no signs of abating. Indeed, the situation is getting worse.
While the V4 are the main beneficiaries of EU subsidies, and the insufficient use of EU funds remains one of the most burning systemic issues the region is facing, the Visegrád Group is nowhere near unified on the issue. The EU’s anti-fraud agency has limited leverage, as it is up to local law enforcement authorities to investigate cases where EU funds were defrauded.
The political atmosphere for the protection of rule of law and other fundamental values of the European Union appears to be in a cautious but positive change. Instead of rallying around the flag, European political groups started putting greater leverage on national member parties that are not complying with European values.
Coal phase-out is inevitable if the world wants to limit global warming to 1.5°C. The question therefore arises not whether to shift to the low-emission economy but when. And how to do that without leaving the people from coal-abundant regions behind. Visegrad Group countries still struggle with the when-question, while Poland is still on the whether-stage. Simultaneously, several regions in the V4 states pursue promising just transition projects.