Multiple financial fires raging across Central and Eastern Europe could have been put out had EU institutions responded sooner to the populist lawfare banks have been put through over the past few years.
What is behind the magic of high numbers of anti-crisis programmes to combat the economic fallout from COVID-19? Some CEE countries can afford policy responses like developed markets as their central banks kick-start QE support programmes.
Governments that failed to rise to the crisis — through denial, dismissing the dangers or simply incompetence, resulting in unnecessary deaths and economic hardship — should fear their day of reckoning.
There are encouraging signs that the authorities in Central Europe have brought the virus under control and policymakers are slowly starting to ease lockdown measures, which will support a recovery in activity, but a sharp slowdown remains inevitable
Austria has applied a drastic lockdown that has been in place for almost five weeks to contain the spread of COVID-19. The measures have been more restrictive than in some neighbouring and Western countries, and especially Germany. Now, starting this