This paper first describes the ingredients the present crisis in the euro zone and then evaluates the key options that policy makers face in resolving the crisis and avoiding similar crises in the future. I argue that the crisis should not be seen as caused by government profligacy alone. In...

The transformation process in market economies is inherently connected with the inflow of foreign capital, which replaces the missing domestic resources. This also applies to the Czech and Slovak economies, whereto the capital primarily in the form of foreign direct investment has flown since...