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You were \'nice\'? Here is a reward. You were \'naughty\' – here is a punishment. There is a kind of a social contract between an individual and Santa Claus. This simple and intuitive logic is not uncommon in many cultures. But I cannot help at wonder: what would Santa Claus be like if he was a government figure?

The mass scale of the social response to what Law and Justice is doing, the Committee for the Defence of Democracy, which within two days gathered over 30,000 supporters may be just a preview of a massive political force that shall defend the rule of law, its sense of belonging to Europe and liberal democracy which it deems indispensable, or even \'holy\'.

We are delighted to present you the 3rd issue of \"4liberty.eu Review\" devoted to the shadow economy in CEE. Read the editorial below and preview the magazine on Issuu. Enjoy!

Nowoczesna is a party of the responsibility for the public finances, of the sensible management of the resources – a party that promotes entrepreneurial spirit, creativity, innovativeness and free market. It is a clear antithesis of the vision of Law and Justice – which Civic Platform clearly is not.

Slovakia’s example is emblematic of how a government trying to patch up fiscal loopholes turns to targeting incomes of the most vulnerable, using their limited means to solve societal problems. From the government’s perspective, this is often the easiest way to procure the necessary funding.

The brief message of the report regarding the effectiveness of the banking supervision in Bulgaria is unambiguous: yes, the supervision has demonstrated weaknesses, and yes, the CCB management has circumvented and violated the regulations and the good banking practices.

Last month one of the greatest and most extraordinary economists of our time – Douglass North (1920–2015) – departed. He left enormous inheritance of insights that will be considered and re-considered for a long time, and its entire meaning is yet to be discovered and realized.

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.

Let’s be honest. Governments remember deregulation in their talks with businesses or during election campaigns. But they do not pay nearly as much attention to deregulation as they do to expanding regulatory obligations, increasing taxes, or telling people how to behave.

Cash payment restrictions would increase individual and corporate expenses and would cause payment inconveniences. How would one be expected to make larger payments at weekends when interbank transfers are not made? A forced „banking“ of cash reduces competition among payments methods.