Across Europe, shadow markets constitute a significant portion of the economy. According to some estimates, an average of 16% of GDP in EU member states is generated by the shadow economy.
The European Commission (EC) has launched a fitness check of the 2012 State aid modernisation package, the railways guidelines and the short-term export credit insurance communication to evaluate whether the rules have actually worked in the way intended and are still fit for purposes.
The EU sets minimum levels of regulation with respect to working hours. The research shows that the countries tend to comprehensively follow the set EU standards with regard to the maximum duration of work during the day, minimum periods of rest, and some aspects of annual leave.
On May 11, Lithuania celebrated its second National Respect for Taxpayers Day. This day became an official commemorative day in Lithuania following the adoption of a proposal from the Lithuanian Free Market Institute (LFMI) in early 2018.
Each and every one of us knows lack. We hunger for bread, crave love, lack meaning. Lack leaves us restless, raging against the world and ourselves. But despite its familiarity, lack remains a mystery.
Under EU legislation, Member States are required to abolish any legal provisions contrary to the principle of equal treatment and have to introduce measures that would facilitate getting legal remedies in cases of alleged violations of equal treatment.
Out of thirty European countries, sixteen allow retail trade on Sundays, whereas fourteen do not limit retail opening hours on public holidays. The countries which regulate retail trade on Sundays and/or public holidays apply a range of exemptions.
On March 27, 2019, the Lithuanian Free Market Institute (LFMI) ran the second edition of the National Economics Exam. Aimed at promoting economic literacy and the relevance of economics education, the exam is intended for all citizens interested in measuring their knowledge of economics.
After seven years in his role as President of LFMI, Žilvinas Šilėnas will lead the Foundation for Economic Education (FEE) in the United States. LFMI’s long-serving Vice President Edita Maslauskaitė will succeed Šilėnas as LFMI’s Interim President from mid-April.