A discussion is under way inside the European Union as to how many years are required before its new members will match the living standards prevailing in the rest of the now 25-nation EU
Published:
12 August 2004 y., Thursday
A discussion is under way inside the European Union as to how many years are required before its new members will match the living standards prevailing in the rest of the now 25-nation EU. Many economists predict that even those new members that have relatively strong economies will require at least 30 years to reach the per-capita income levels prevailing in Western Europe.
Of the new EU members, Slovakia and three Baltic states are generally considered to be the fastest-growing economically. Each of them aspire to match the achievement of one of the oldest members of the EU, Ireland, which in the 1990s registered economic growth rates averaging over eight percent.
Willem Buiter, chief economist at the European Bank for Reconstruction and Development in London, says Ireland is a worthy model for the new EU members.
"Ireland has done it. From being a poor west European country they are now a rich west European country, richer than the average west European country and richer even than Britain," he said. "But they had a number of factors working for them that are not present in Eastern Europe, the main thing being the demographics."
Barbara Boettcher, an economist at Deutsche Bank in Frankfurt, agrees that the Ireland model won't be easy to emulate.
"You won't see that in Eastern Europe," she said. "Eastern European countries, which are designed to be winners are those that have attracted a large share of the production oriented foreign direct investment, like Slovakia, Hungary and the Czech Republic have done."
Šaltinis:
voanews.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Ensuring that women are protected from physical, sexual or psychological abuse if they flee abroad is what lies behind the proposed European Protection Order.
more »
Remnants of Tropical Storm Agatha dumped more rain across Central America, killing at least 73 people in the region, and forcing scores of others to flee their homes.
more »
Ninety-three-year old Lim Guan Siew looks back, with regret, on her experience of the long-dispelled Chinese custom of foot-binding.
more »
Ahead of the 2010 No Tobacco Day (Monday 31st May), the European Commission unveils the results of a Eurobarometer survey which shows that a strong majority of EU citizens support stronger tobacco control measures.
more »
Enviromentalist and endurance swimmer Lewis Pugh puts his body to the test in thin air and cold water to highlight shrinking glaciers in high mountain ranges.
more »
It’s a dog’s life for the 1,500 unwanted strays who spend their days in a slum-like shelters in Brazil’s southern city of Caxias do Sul.
more »
Three resolutions on the situation in Thailand, the pre-election climate in Burma and religious freedom in Pakistan were adopted by the European Parliament in Strasbourg on Thursday.
more »
Growing numbers of children enroll in kung-fu schools to learn self-defense techniques after a series of school attacks in recent weeks spark wide-spread concern in China.
more »
Homosexuality in the military can be a thorny issue around the world, with gay and lesbian soldiers often hiding their sexual preference out of fear.
more »
European Commission Vice-President Viviane Reding will urge EU Member States to swiftly ratify the UN Convention on the Rights of Persons with Disabilities during a May 19 Ministers’ meeting in Zaragoza, Spain.
more »