F.A. Hayek Foundation

Brexit can start a crisis the likes of which the EU didn’t get the chance to experience so far. For the first time, the process of economic integration, which went on continuously since the year 1951 when the European Coal and Steel Community was established, will stop. The result of the Brexit referendum sends a clear message that the EU has to start solving its problems, otherwise there may be other referendums in the future.

The last couple of weeks bore witness to some interesting news. Headlines generated from ranks of the European Union were complemented by updates from the realm of new technologies and applications continuously on a crusade of further progress and development even in the world of virtual currencies.

The results of the recent elections surprised probably all Slovaks. Quite a number of parties made it to the Parliament and everyone is waiting what a mash-up they will create. Presumably the biggest surprise was the success of an extreme right-wing party Kotleba – People’s Party Our Slovakia (ĽSNS)

The election night is always magical. It is a beautiful moment when we may spot all shades of human emotions, starting with joy and celebration, ending with consternation, sadness or even total disillusionment. Saturday’s elections in Slovakia were quite special in this respect.

During the past few weeks nothing really new occurred in cryptocurrency’s world. The last two weeks, however, have already brought a change. The discussion related to Mike Hearns’s exit about the future of Bitcoin lead by important developers from the community is contributing to this change.

Over 90% of legislative burden in Slovakia comes from four ministries: the Ministry of Finances, the Ministry of Labor, thr Ministry of Health and the Ministry of Economy. The highest share, about 65% (EUR 1.7 billion) comes from the Ministry of Finances.

Sadly, there are many parties in Slovakia that lack a broader understanding of the topics featured on front pages of the world news. The potential conflict between Saudi Arabia and Iran, or the Scottish push for independence are issues which require a clear position, not just a series of empty phrases.

Slovak politicians create rules for entrepreneurship as if for people living on a different planet – and that is the way it has been for many years already. It is the politics of excessive interference in economics, which inherently and often unnecessarily limits enterprise freedoms.

Following the tragic attacks in Paris and subsequent events in Africa, the debate on multiculturalism and immigration has been given a brand new flame. Both camps have thrown in their big guns.

Last week Bratislava had yet again the honor of hosting some of the world’s leading experts in the subject at the conference entitled \'The Future of Money 3.0\' organized by the F. A. Hayek Foundation in Hotel Devin on Thursday, November 26, 2015.