Articles

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.

Back in 2012, Mario Draghi vowed to do “everything in his power” to save the euro. Four years later that promise seems fulfilled – both the recent moves by the ECB and the market reaction that followed suggest that we are reaching the limit of what monetary policy can achieve in the euro area.

An international conference Free Market Road Show organized by INESS in cooperation with Austrian Economics Center was held in Bratislava at the Hotel Tatra on March 11, 2016. The Bratislava Free Market Road Show is a part of a unique conference tour which takes place in 45 cities of Europe and Caucasus from March to April every year.

Josef Šíma, President of CEVRO Institute, talks with professor Michael Munger of Duke University about the economics and politics of unicorns, sharing economy, truly voluntary exchange and the PPE approach which combines rigorous policy analysis with an acceptance of ethical obligations of charity.

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.

The fiscal position of the Government remains comparatively strong. The Government is expected to continue reforms implementation, which would also result in additional support by official international donors. Overall, real GDP is expected to grow by 1.7% in 2016.

Ukraine may find itself with new Government in the very near future. Frequent government changes do not help the country as there is little to ensure continuity in government policies. Budget planning is done on a single-year basis, senior civil servants are frequently replaced along with politically appointed Ministers.