Essay on Poland and Bulgaria: An Economic Analysis

The Soviet Union, which was once a world superpower in the 19th century saw itself in chaos going into the 20th century. These chaoses were marked by the new ideas brought in by the new leaders who had emerged eventually into power. Almost every aspect of the Soviet Union was crumbling at this period both politically and socially, as well as the economy. There were underlying reasons for the collapse of communism in the Soviet Union and eventually Eastern Europe. The economy is the most significant aspect of every government. The soviet economy was highly centralized with a “command economy” (p.1. fsmitha.com), which had been broken down due to its complexity and centrally controlled with corruption involved in it. A strong government

Addressing some issues, the European Union decided to issue 750 million Euros in order to start the process of financial stability for the whole union (Mckee 524). Over time, the union learned that that the amount of money was not enough in order to help each countries’ individual financial crisis. As of now, the union has to increase the amount of money they are feeding to countries in hopes of fixing the economic issues. The continuing issue with the European Union’s economic plans is finding the money to keep funding countries with low economic growth. Furthermore, the union also has to figure out how to deal with the issues that are outside of the European Union’s borders. In

On the other hand we had the USSR and their approach towards rebuilding Eastern Europe. “Modernization of production in the Soviet bloc opened new technical and bureaucratic careers, but economic development in satellite states remained slow because the USSR bought goods from these satellite states at bargain prices and sold to them exorbitant ones. Despite this inequity, peoples livelihoods

Since the fall of the Soviet Union 1991 many changes have been brought to Europe. After the fall of the Soviet Union newly formed countries of Eastern Europe found themselves brought into a new era, many of the people had relied on the Soviet Union’s system of socialism to help them with every detail of their lives and to dictate their lives but with this newfound freedom citizens had many changes forced upon them. All they once knew had been taken away so suddenly most didn’t know what to do with themselves. The Government, Economy and Marxist Idealism had all fallen with the Soviet Union. Citizens had no choice but to move on with their new lives because it was as their past lives

Another repercussion of the Soviet Union’s collapse was the failure of the economies of almost every new post-Soviet country. Most of the economies of the new Republics were left in shambles after the collapse. In Russia, people were not ready for the new economic freedom that resulted from the fall of Communism. Their unpreparedness led to inflation. “Inflation caused prices to go up three hundred percent in the first month, and 2,591 percent by the end of 1992.”( Russian Economy in the Aftermath of the Collapse of the Soviet Union) Just three years after the Soviet Union’s fall, Russia’s inflation rate had skyrocketed to 2591 percent, evidencing that Russians were not prepared for such a rapid evolution, going from a communist economy into a capitalist economy. All post-Soviet countries had the same economic fate as Russia, plunging into worse economic conditions than the United States suffered during its Great Depression. For example, in 1992, the Ukraine had almost a fifteen percent drop in its gross domestic production and Latvia suffered a 33 percent drop. (GDP growth) Many of these countries’ economies are still suffering as a result of the rapid evolution

Civilizations are constructed and inhabited by people. No matter where they come from, the color of their skin or the language they speak they have the right to coexist. Immigrants from all around the world have come to one great nation to live the dream. America was founded by immigrants which today are now naturalized citizens by birth and that have several generations of families. The American population will always continue to grow not with the naturalized births but with the arrival of immigrants.

By the early 1990s, Soviet domination in Eastern Europe had ended. A number of individuals played a part in the collapse of the Soviet Union. Understanding the role that each played is an important part of understanding the process that changed European politics and geography.

change was in the lower levels and was had an emphasis on politics instead of

The Soviet Union’s Sovietization of Eastern Europe was Joseph Stalin’s response to the betrayal of Great Britain in the “Percentages” Agreement and the failure of the Grand Alliance. Outside of those nations however, the Soviet Union began to promote self-sustaining economic freedom in the form of the Soviet economy. This heavily conflicted and disrupted with the “Trilateral” Empire’s attempts at constructing an economically controlled empire.

During 1940-1970, the USSR and the USA were the world’s leading superpowers. After WW2, it was the US money that helped rebuild nearly all of Western Europe, putting nearly half a dozen countries into debt. They opened trade and helped Europe’s ravaged economy to get back onto its feet.

Comparisons between countries and regions before and after the advent of capitalism in Eastern Europe, Russia and Central Europe as well as a comparison of Cuba and the ex-communist countries provide us with an adequate basis to draw some definitive conclusions. Fifteen years of "transition to capitalism" is more than adequate time to judge the performance and impact of capitalist politicians, privatizations, free market policies and other restoration measures on the economy, society and general welfare of the population.

By the end of 2008, the European Union began experiencing rippling effects of the United States financial crisis. Several member countries, most notably on the southern end of the continent, faced high levels of debt and unemployment. Portugal, Iceland, Ireland, Greece, and Spain, derogatively referred to as “PIIGS,” required extensive economic support from the EU in order to repay government debts and bail-out private banks. Disbursal of aid in 2010 proved successful in promoting economic recovery in some countries; however, the vast majority observed only slight economic improvement which led to doubts regarding the effectiveness of the harsh austerity measures implemented. Ireland has most clearly benefited from the financial support of the European Union as the country’s unemployment rate has dropped below ten percent and is expected to witness 4.5% GDP growth in 2016. Portugal, on the other hand, shows little fiscal improvement as evident in an unemployment rate of 13% and an expected GDP growth of only 1.6% in 2016. Although both countries faced tough financial crises in 2010, Ireland has notably outperformed Portugal in resolving the situation. The weak economy in Portugal, as well as continued fiscal hardship in the remaining “PIGS” countries, threaten the preservation of the European Union as financial inequality between the members persists.

Under Mikhail Gorbachev the Soviet Union underwent massive social, political and economic reform that drifted away from communist ideology and this ultimately lead to the collapse of the Soviet Union and failure of communism in Eastern Europe. This essay will focus on how the Perestroika reform and Glasnost policy programs as well as other external and internal pressures contributed to the failure of communism under Gorbachev. The aim of the Perestroika and Glasnost reforms was to restructure and strengthen the Soviet political and economic system and provide more freedom and democracy within the Soviet Union while strengthening Communism. However, these changes had achieved exactly what they aimed to prevent when they were first elaborated and led to the failure of communism and collapse of the Soviet Union. While focusing on the policies this essay will also focus on the major increase in nationalism that occurred in the Soviet Republics as a result of the Glasnost. External pressure from the western world was also a factor and the role that the United States and the Ronald Reagan administration played in the downfall of communism under Gorbachev will be examined. The essay will also discuss how the disintegration of Yugoslavia and the 1991 Coup d’état led to the failure of the policies and failure of communism.

In 1999, ten European nations joined together to create an economic and monetary union known as the Eurozone. Countries, such as Germany, have thrived with the euro but nations, like Greece, have deteriorated since its adoption of the euro in 2001. The Eurozone was created in 1999 and currently consists of eighteen European nations united under the European Central Bank and all use the euro. The Eurozone has a one point six percent inflation rate and an eleven point six percent unemployment rate in 2014. Greece joined the Eurozone in 2001 and was the poorest European Union member at the time with a two point six percent inflation rate3 (James, 2000). Greece had a long economic history before joining the Eurozone. The economy flourished from 1960 to 1970 with low inflation and modernization and industrialization occurring. The market crash in the late 1970’s led Greece into a state of recession that the nation is still struggling with. Military failures, the PASOK party and the introduction of the euro have further tarnished Greece’s economic stability. The nation struggles with lack of competitiveness, high deficit, and inflation. Greece has many options like bailouts, rescue packages, and PPP to help dig it out of this recession. The best option is to abandon the Eurozone and go back to the drachma. Greece’s inflation and deficit are increasing more and more and loans and bailouts have not worked in the past. Leaving the Eurozone will allow Greece to restructure and rebuild

The economic crisis of 2008 in New York had ripple effects around the world, causing deep structural problems within the European Union to crumble the economies of several countries. These countries, known as the PIGS, are made up of Portugal, Ireland, Greece, and Spain, and collectively hold most of the sovereign debt problems of the European Union. After fast growth early in the decade, these countries were spending too much money and not securing their own banking sectors with enough capital. Soon, the debt the PIGS owed caused massive problems throughout the EU, and Germany and France had to come to the rescue of these poorly managed countries. (Greek Crisis Timeline, 1) Now, in 2012, the issue has yet to be fully resolved. Greece is still sinking, and a massive bailout for Greece's banks is required. The debate is whether Germany should continue bailing out Greece and collecting interest on its loans, or whether Greece should try to separate itself from the broader European Union, in an attempt to manage its own finances and declare bankruptcy in order to save itself from crippling interest payments. Each path offers an escape from the present situation that Greece finds itself in, but only the path of bailout results in a harmonious European Union. If Greece fragments off from the EU, then the entire union is weakened as a result. I believe that Greece should accept the terms of the bailout that Germany has provided, and should undergo several years