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
This Saturday, 24 April, the Carlos de Amberes Foundation is hosting two conferences of European experts on the environment and sustainability and immigration policies in the EU, organised by the Allianz Cultural Foundation in the context of the Allianz Alumni Academy.
more »
The Trident-Oberoi Hotel in Mumbai to reopen, following renovations after militant attacks in 2008
more »
Fresh from their wedding in Jamaica, British tourists Siobhan and David Monteith never thought for a minute that a volcano would interrupt their honeymoon.
more »
The streets of Manila filled with a colourful display on wheels, just days before the world celebrates Earth Day’s 40th anniversary.
more »
Tens of thousands of Ugandans flocked to the hilltop palace of Africa’s youngest tribal ruler for two days of noisy parties marking a decade in power for the 18-year-old king.
more »
Colourful warriors leap across the stage at the 6th annual Songjiang Battle Array, in Neimen, southern Taiwan.
more »
Consumers benefit from greater use of European product safety alert system and more effective market surveillance.
more »
Representatives from all Member States are gathering for two days in Zaragoza from 15 to 16 April to discuss how migrant integration can become a driver for social cohesion in the EU.
more »
The much heralded "citizens initiative" to change EU laws has been given a cautious welcome by MEPs. Under the scheme - a major innovation of the Lisbon treaty - a million people can back a plan to introduce European legislation.
more »
Football shares Europe's values of integration, solidarity and social inclusion, and can play a significant role in helping the EU to promote them, especially at the local level where clubs are part of their local communities.
more »