The economies of Central and Eastern Europe have inherited serious burdens of environmental pollution, while their economic scope for dealing with these is limited. The transition to the market economy offers chances for improvement, but it also brings new environmental problems. How will the...

The economic reforms taking place in Eastern Europe have in many respects an unfavourable influence on environmental protection. The adjustment of Eastern Europe to the environmental requirements of the European Union necessitates far-reaching changes in the very philosophy of transition,...

Recent price developments in the euro area demonstrate that deflation is a serious issue of concern. Some euro area countries are already facing a deflation in the usual macroeconomic sense of a 'general price decline'. This article discusses the economic consequences of deflation and suggests...

At the height of the European sovereign debt crisis, the European Central Bank decided to purchase distressed European government bonds. Even worse, and more importantly, the ECB is providing direct support of several hundred billions of euros to troubled banks via its normal monetary policy...