At the end of the day, efforts to protect domestic businesses are always paid by the consumers. Nothing is free, the same is true also for protectionism. It leads to higher prices and worse quality of services that protected businesses offer.
In the Czech Republic, we have gone through four decades of central planning of prices of practically everything. And the result? Either the price has been set too high and surpluses have been accumulated, or too low, and the television in the evening informed the audience about shortages of underwear and toilet paper.
Businesses in Ukraine want the customs procedures to become less income-focused and instead, to be aimed at facilitating trade. As the 2015 survey of Ukrainian businesses by the Institute for Economic Research and Policy Consulting showed, changes in trade regulations and customs rules are needed to boost international trade.
Contrary to what Lithuania’s prime minister claims, discussions on euro introduction are far from over. They might be over for those who have had the task of convincing Lithuanians about the benefits of having the euro.