With the 2008 collapse of Lehman Brothers, Europe and the USA have become engulfed by sovereign debt crises, a problem that many felt no longer applied to the advanced economies. The US sub-prime loan crisis caused so much damage to the whole world, resulting in the global economy experiencing a...

Both the current economic situation and the short-term growth outlook of virtually all countries in transition are better than at any time during the last decade. Driven by higher import demand from the EU, the Central and East European countries are enjoying an export boom which fuels their GDP...