A capital increase for the EBRD requires evidence of real added value – Some ways forward
Publisher: CEE Bankwatch Network
Volume: 3 pages, pdf
Description:
Еven before the current economic crisis there were clear signs that the transition to a market economy in central and eastern Europe, which theEBRD is mandated to promote, is coming with a high social price tag attached. TheEBRD's own survey on transition in 2007 – at the height of the boom times – included the alarming finding among 29,000 respondents across the region that trust in society had plummeted since 1989. The economic crisis has added urgency to these findings,raising difficult questions for theEBRD about its role in the transition countries and the sustainability of the free market model it has been promoting for nearly two decades.