rates - just as Croatia, Bosnia and Herzegovina and Montenegro. Russia, Ukraine and Kazakhstan will rebound more strongly … pronounced as long as employment fails to grow. Investment will not act as a strong engine of growth either. Given the generally …

the third quarter of 2011. In a number of countries (e.g. Croatia, Czech Republic, Hungary, Serbia, Slovenia) the most …

employment. Furthermore, patterns of adjustment across CESEE economies vary greatly, with some countries (such as Croatia … dampens consumption expenditures, and leads to cutbacks in employment (and wages), which, in turn, lower household incomes and … markets of the CESEEs and the situation of the banking sector respectively. Towards the end of 2011 the employment situation …

were still stagnating or contracting in 2010 (Bulgaria, Latvia, Romania, Croatia, Macedonia and Montenegro). However, in …

their external competitiveness - via devaluation and/or cuts in employment. On account of their solid industries, they … crisis. In the Western Balkans, significant employment cuts have so far been mostly averted, but they might well come to the …. Furthermore, as a consequence of the crisis, persistently low employment levels might result in human capital losses. The slower …