Economy

Ranked 20th in the 2016 World Bank’s Ease of Doing Business Index, Lithuania has outstripped its closest neighbours Latvia and Poland. Yet, possibilities of forging ahead as one of the most business-friendly economies are not fully exhausted.

49% of Lithuanian citizens see labor legislation as the means of achieving balance between employee-employer interests while 33% claim that it is an employee and 7% that it is an employer who should be defended by labor laws, LFMI’s survey shows.

The past two weeks were characterized predominantly by discussions over the hacking of Bitcoin exchange BitFinex. Other noteworthy news streamed mainly from Zimbabwe, the U.S., Isle of Man, China, and customarily from Russia.

The Economic Freedom of the World study gives all nations a very useful tool to see in which areas their countries\' economies have weak spots, why investors are not attracted to what they offer and why individuals avoid hard work.

Although Mateusz Morawiecki (Deputy Prime Minister and Minister of Development) often says that his plan would be based on the idea of both governmental and private saving and investing, the programme itself shows quite the opposite: the government just wants to spend money immediately on certain investments and branches.

Economic slowdowns are always challenging for the state authorities. Expenditure cuts and search for new sources of income often lead to imperfect policy changes. In 2012, KGHM became a victim of a government’s hunt. As a result, the company was forced to pay a new silver and copper extraction tax.

Taking a loan in a foreign currency puts both borrowers and banks at risk. At the time of signing the contract, both providers and takers neglected the possible weakening of Polish zloty, believing in its further strengthening. Besides the fact that one can easily learn about it from various sources, the majority of borrowers knew that such a danger exists.

France is facing yet another challenge. The European Commission clearly stated that a restrictive regulatory approach that they have implemented must be avoided. A difficult road is ahead for the French government as it will have to admit that the country’s licensing practices are laughably outdated and have to be removed.

Despite being in the midst of holidays, it does not seem like a festive season in the world of cryptocurrencies. Several notable occurrences meriting attention were captured worldwide in recent weeks, predominantly in Russia, North America, and Europe.

Despite the fact that the silly season has already started, several interesting occurrences took place. The most important news comes from the European Union, but also from Russia, Argentina and USA. Let us have a closer look.