2 resultados para Vertical pull-out failure

em Archive of European Integration


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Following a period when EU-Turkish relations have not been particularly close, the readmission agreement signed in December 2013 by the Home Affairs Commissioner Cecilia Malmstrom and the Turkish Minister of Foreign Affairs Ahmet Davutoglu could help inject some sorely needed goodwill and trust into the relationship. Yet, as pointed out in this commentary, there is always the risk that the challenges faced in the actual implementation of the agreement will aggravate the relationship.

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2015 saw a drop in Belarus’s GDP for the first time in almost 20 years, which is primarily the result of a significant reduction in levels of production and export. As a consequence, there was also a serious depletion of the country’s foreign exchange reserves, as well as a progressive weakening of the Belarusian rouble. The macroeconomic figures from January and February 2016 show that these trends are not only continuing, but they are also becoming even more severe, which confirms that Belarus now finds itself in a prolonged economic crisis. On one hand, the reason for this state of affairs is the protracted economic recession in Russia, which is Belarus’s main economic partner, together with the drastic global decline in prices for fuel, which is a key Belarusian export. On the other hand, meanwhile, an equally important reason for the current crisis is the failure of the Belarusian economic model. President Aleksandr Lukashenko, out of fear that his authoritarian system of government will be dismantled and that public discontent will rise, has categorically rejected the proposals for even partial reforms put forward by some of his entourage, who are aware of the need for the immediate transformation of the country’s anachronistic and very costly economic model, based as it still is on quasi-Soviet management policies.