Transatlantic Politics

There is a good analysis on Eastern Europe in the current Economist edition. Bottom line:

"Overheating economies, slow reform and messy politics make a grim mixture"

Common problems: Governments and politicians totally  lack accountability, there is no real desire to further reform the countries now that they joined the EU, they have no strategy for clever economic and social development (similar to Ireland, for instance). And yet, all 10 former communist countries that joined the EU in 2004 and 2007 have "surprising" GDP growth: the Baltics even over 10%. But politics seem to get in the way of the economic boom:

"The underlying failing is weak and indecisive government across the region, which needs years of good government if it is to catch up. Romania, the second-largest east European EU member, is paralysed by a political feud between the prime minister and president. As a by-product, the upper house of parliament has voted to dismiss the justice minister, Monica Macovei. In sunny economic weather, such political shenanigans would be mere details. In a chillier climate, they make east Europe’s future more worrying."

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