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The EU’s Role in Supporting Crisis-Hit Countries in Central and Eastern Europe. Bruegel Policy Contribution, 2009/17, December 2009

Darvas, Zsolt. (2009) The EU’s Role in Supporting Crisis-Hit Countries in Central and Eastern Europe. Bruegel Policy Contribution, 2009/17, December 2009. [Policy Paper]

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    Abstract

    The crisis has hit central and eastern European countries harder than other regions of the world. In this policy contribution Resident Scholar Zsolt Darvas looks at the role of the EU and its institutions in supporting crisis-hit CEE countries; the stabilising effects of the EU’s coordinated multilateral financial assistance; and the commitment shown by Western European banks to the region. However Darvas argues that there were certain actions, or failures to act, on the part of EU institutions and governments, that have amplified the effects on CEE countries of the crisis. The European Central Bank has given little direct support to non-euro-area countries, and the EU has done little for EU neighbourhood countries. Meanwhile, euro-area membership has shielded from the crisis some countries with worse fundamentals than certain CEE countries.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > External relations > EU-Central and Eastern Europe
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on and consequences/reforms
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Policy Contributions
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 20 Jan 2010
    Page Range: p. 11
    Last Modified: 15 Feb 2011 18:20
    URI: http://aei.pitt.edu/id/eprint/12368

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