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report: July 2009 |
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Emergency MarketsThe east is now becoming red again – at least as far as the balance sheets in the company accounts are concerned. social issues & initiatives | Crossborder | by Robert Misik | 2009-03
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Everyone has something to saySocial or neo-liberal? In Hungary, the economic crisis in politics is giving rise to discussions about cutting back on social expenditure. However, unlike in the west, countries such as Hungary have long been struggling with very high deficits, due to a lack of reforms since the turn of the century. The path to prosperity has encountered obstacles and now and again a sense of nostalgia arises, although this dies down in everyday life, as does the constant desire for better times. social issues & initiatives | Hungary | by Kathrin Lauer | 2009-03
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The crisis has only just begunAfter a decade of economic boom Russia is particularly severely hit by the financial crisis. This crisis that has expanded to take on worldwide dimensions and is successively transforming into a social crisis has delivered the country a number of blows. In addition to liquidity problems the fall in the price of oil shakes the foundations of an economy that has a large dependence on raw materials. In addition the continual devaluation of the rouble over a period of weeks has led to entrepreneurs limiting their activity to speculating on shares. According to current prognoses the economy, which in 2007 grew 8.1 per cent and in the previous year 5.6 per cent, will this year shrink by minus 2.2 per cent. Even already the assembly lines in the metalworking or car industries have come to a standstill, the number of unemployed is rising. Yevgeny Gontmacher, the leading Russian social economist at the Academy of Sciences and presidential advisor, already published a scenario for this kind of escalation two-and-a-half months ago. The newspaper "Vedomosti" shortly afterwards received a warning from the media watchdog that the text could stir up "extremist activities". In an interview with "Report"Gontmacher describes how the situation has developed since then and how the crisis has further changed Russia. social issues & initiatives | Russia | by Eduard Steiner | 2009-03
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