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STUCK IN THE MARKET? 25 YEARS SINCE THE FALL OF THE BER...

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Stuck in the market? 25 years since the fall of the Berlin Wall: what now for the EBRD?

24, pdf
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Stuck in the market? 25 years since the fall of the Berlin Wall: what now for the EBRD?



Publisher: CEE Bankwatch Network

Date: May, 2014

Volume: 24 pages, pdf

Description

In 2011, as the European Bank for Reconstruction and Development (EBRD) celebrated 20 years of operations in supporting transition to a market economy and pluralist democracy, transition had been patchy. Only the Czech Republic had ever graduated from EBRD operations and even by the bank’s own standards, the economic and financial crises had exposed crucial weaknesses in the models it had promoted, such as the penetration of western banks into the region which spread the effects of the financial crisis, and the dependence on exports which had knock-on effects when the importing countries lowered their consumption. More broadly, market economics was - and is - far from solving the massive environmental and social challenges we all face.