Economy

Economy

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The Ministry of Economy finally published the eagerly-awaited plan for amendments to the Law on Protection of Competition (LPC). The newly proposed texts in the LPC are, for all points and purposes, a reaction to the ‘drama’ between the suppliers and the supermarket chains. It is no secret to anyone that the government feels compelled to solve this “problem” and legislation on competition is the shortest way for government (political) intervention into these relationships. The…

Economy

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During the past decade Slovakia used to be called a tiger in the middle of Europe. We have earned this nickname because we implemented transparent tax system with lower rates which in combination with relatively cheap labor attracted many large investors. But big corporations were not the only companies who came here to set up the regional centers or manufacturing facilities. Smaller companies from the neighboring countries were interested as well. Lower taxes were inviting…

Economy

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When is going to happen the next Slovak cabinet billion-worth meeting? Is Draghi tough because Angela is on hliday? Will be two Greek bankrupts within six months a new European or Olympic record? What a week! When it come to euro crisis, there is no silly time for sure. For example, how many Slovak cabinet meetings, during which our representatives approved 1 billion EUR for a Spanish black hole, have there been before? For example, the whole fiscal…

Economy, Society

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Since regaining independence some twenty years ago Latvia, a small, open economy has been tormented by three economic crises: first one resulting from the economic transition (institutional change from centrally planned to free market economy), second, in 1998, being transmitted from Russia, and the last one being part of the recent global recession. Despite these circumstances, Latvia has successfully conducted reforms aimed at elicitation of the labour force (i.e. increasing the labour force participation rate…

Economy, Politics

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During the recent years the EU has been trying, via regulations of the EU Commission, to prevent people from consuming harmful food. The EU Commission thus produces legislation regulating food market and many of them, such as extensive law regulating gummy bears or the legislation stating “proper” shape of cucumber are nowadays taken by citizens more as jokes, though some of them still exist. While regulating, it imposes huge costs on firms, although those who…

Economy

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Is destabilization of the EU really the only alternative? German constitutional court takes its time. The state won’t allow any competition in manipulating interest rates. Many Spaniards have put all the eggs in one basket, which is currently hitting the ground. When Silvio is talking, rating agencies are listening. New chairman of the Council for Budget Responsibility and former governor of the National Bank of Slovakia Ivan Šramko claims that there is no alternative for…

Economy

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On July 3, the Institute for Мarket Еconomics (IME) presented its analysis on the condition of “Bulgarian Posts” in the context of liberalization of postal services in the EU and Bulgaria. The round table took place at the “Sofia” hall of Grand Hotel “Sofia”. Amongst the participants there were representatives of: The Ministry of Economy, Energy and Tourism (MEET); Ministry of Transport, Information Technologies and Communications (MTITC);  “Bulgarian Posts”;  the Communications Regulation Commission (CRC) and…

Economy

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ECB trade unions protest, Barclays collects all the prizes both at home and abroad, Sarkozy packed toothbrush and pajamas – just in case, Finns and Dutch are disobedient, Klaus witty about the Europe as always. And you know who rules the EU? Communists. Ongoing crisis has profound social implications. So significant that they were noticed even by the trade unions in ECB. In a survey carried out among employees it turned out that the years of hard…