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Although Transnistria, in exchange for meeting certain conditions, was allowed to benefit from the free trade agreement that Moldova signed with the EU, there are plenty of obstacles which could derail the deal. The business community in the breakaway republic is eager to enjoy the fruits of the DCFTA but is reluctant to shoulder the price of necessary reforms, the outgoing leader of the separatist enclave could undermine the agreement for electoral reasons, Russia might be tempted to test the EU’s resolve to defend its trade-related norms, and Moldova could erect bureaucratic barriers for producers from the left bank of the Nistru River. In the light of these many risks, the EU should persistently encourage all sides to stick to their commitments while averting disputes that would undermine enforcement of the DCFTA in Transnistria in a timely manner.
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Australia has a long history of immigration, including accepting refugees. Over the years, it has developed mechanisms and instruments that aim not only to help people in need but also to provide for the country’s stability and prosperity. However, in recent years some elements of Australia’s refugee policy, especially its approach towards the so-called boat people, have come under fire. Nevertheless, the solutions implemented by Australia should be part of the EU’s efforts to find ones useful for dealing with its current migration crisis.
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Following the 2015 national election in Turkey the AKP, for the first time since coming to power in2002, failed to win enough votes to form a majority government. Since the election the AKP has giventhe impression that it is attempting to form a coalition government, but in reality the party has beenemploying a number of tactics in order to increase its share of the vote in preparation for a snapelection. These tactics have mainly revolved around increasing the nationalist vote and damaging themain Kurdish party. However, these manoeuvres have increased polarisation in Turkey and haveresulted in an escalation of the conflict with the Kurds. Worryingly, it has become evident that the AKPaims to win power in the next election at all costs.
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The diplomatic conflict that exists between the government in Baghdad and the Kurdish RegionalGovernment impacts relations of both authorities at the international diplomatic level. As the case ofPolish-Iraqi relations demonstrates, meaningful and effective involvement with the KRG is obstructedand sometimes impossible because of the ongoing Baghdad-Erbil conflict and the continuous possibilityof the KRG seceding from Iraq. With the dynamics of Iraq changing post Maliki, it is important forthese diplomatic relations to change accordingly, both internally and externally, in order to protect theterritorial integrity of Iraq.
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Although it happens rarely, national governments, including those of EU countries, do sometimes hire foreign experts. In Ukraine, employing Georgians from former president Mikheil Saakashvili’s administration seems to be a logical move. His presidency’s biggest successes were the establishment of well-functioning police and an efficient fight against corruption, something both of which Ukraine badly needs. Other foreigners, including renowned experts such as Ukrainian American Natalie Jaresko and Lithuanian Aivaras Abromavičius, responsible for economic recovery, may be successful but face extremely difficult tasks. As all these figures are affiliated with the West in one way or another, their failure would be interpreted by pro-Kremlin media as a collapse of President Petro Poroshenko’s policies (perceived by Russia as a Western project).
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Over the course of the last 50 years, migration to the United States has transformed from Europeanto Latin American, and predominantly Mexican. Increased legal migration from Latin America has beencoupled with increased unauthorised entries from the region. The major challenges facing U.S.policymakers concern their ability to prevent unauthorised entries and the repatriation or integration ofthose already in the country. With decreased legal and unauthorised immigration rates, Poland has lostthe potential to affect U.S. migration policymaking. Hence, it is worthwhile to assess whether thelimited benefits stemming from visa-free travel to the U.S. would justify the increase in invested politicalcapital required to secure one of Poland’s traditional foreign policy goals.
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The Paris Climate Conference to be held in December may be the last chance to deliver a globalagreement on tackling climate change. One issue that could be a game-changer for the negotiationsand one that is inevitable to achieve global climate goals is so-called climate finance. The existingframework does not provide enough predictability and capacity to limit global warming to a maximumof 2°C. A clear mechanism for gathering public funds from developed countries and the inclusion ofprivate investments is needed to secure reliable post-2020 climate actions.
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While actively contributing to NATO exercises and operations that confirm Turkey’s commitmentto the Alliance, Ankara has also actively avoided cooperating with the Western political andeconomic efforts to curb Russian aggression in Ukraine. Turkey’s low-level involvement, shaped bysecurity concerns, economic needs, yet at the same time its consolidating dependence on Moscow,and its optimistic opportunism, increasingly raise concerns about possible prospects of a Turkish pivotaway from the Euro-Atlantic community. But even while distancing itself from NATO, it may be inTurkey’s interests to rebalance its policy by supporting the stability of Ukraine and closer cooperationwith the EU.
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Blamed for many of the country’s problems, but at the same time under-researched and ineptly understood, the hidden economy phenomenon has, for many years, been insufficiently tackled by Macedonian academic and political elites. During the past few years, a renewed interest in the topic has led towards its more systematic treatment by institutions, but still largely based on approximations, lack of coordination between institutions and under-evaluation of policy measures. This treatment of the problem opens the floor to many speculations regarding the effectiveness of policies and their actual impact on reducing the size of hidden economy. The analysis, prepared by the Center for the Study of Democracy and the Center for Research and Policy Making (CRPM), involves a review of existing reports and data on the hidden economy in Macedonia as well as the available international sources. It reviews the current policy initiatives and whether these have been evaluated, as well as any planned future initiatives. The document aims to address some of the key issues through representing cross-section of existing data on the hidden economy in Macedonia and relevant policies, with the intention to review and summarize the knowledge-base on the issue and provide recommendations for better tackling the problem.
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The present report has the objective to provide an overview of the general framework and particular dimensions of the corporate governance in Bulgaria. It is published for the first time and the authors intend to continue its publication on an annual basis. In its present form, the study contains information thus far unavailable to the professional community and the media. The evaluations and analyses herein are the first attempt to outline the achievements and the problems in the field of corporate governance in Bulgaria in the years of transition. The authors of the report thus aim to encourage a wider discussion on the subject and that, as a result, practical improvement action will be undertaken.
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Bulgaria welcomes foreign investment in the ongoing process of privatization, including, of course, American investment. This short paper describes Bulgaria’s privatization regulations, the transactions completed to date, the program for 1995, and three new instruments in privatization, namely: (a) the mass privatization scheme, (b) internal debt-for-equity swaps, and (c) foreign debt-for-equity swaps. We hope that this information will be of interest to the participants in the Bulgarian-American Economic Cooperation Forum.
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The privatisation funds are specific investment companies. In this sense as the first representatives of this type of economic entity they will have their own importance for capital market development in Bulgaria. In their role as instruments for 'mass' investment their establishment is associated with the application of the programme for mass privatisation. In addition, the privatisation funds are a separate group of issuers which will supply the capital market with "goods" (their own shares - although at the initial stage they are a little immobile) of which the quality will be determined by the funds' successful performance.
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The existing legal and institutional framework and available technical facilities in the Bulgarian capital markets do not work very efficiently towards supporting a fully developed securities market. The necessary legislation, institutions and technical facilities must be put in place, so that, over time, a market will develop which will be able to absorb the volumes normal for a country of the size of Bulgaria and, potentially, international trades. The following discussion presents specific issues that need to be addressed, so that said purposes could be met.
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The Privatization Act was passed by the Bulgarian parliament in 1992, allowing privatization of state-owned enterprises (SOEs) to move forward. Since February 1993, when the first state-owned enterprise was privatized, privatization has slowly been gaining momentum in Bulgaria. Despite this progress, however, the environment in Bulgaria was anything but conducive to privatization until 1997. The economic and political situations were unstable, scaring off potential investors. High inflation, high interest rates, an unstable banking system, an undeveloped financial sector, and a volatile political environment were the rule.
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Since the beginning of 1991 Bulgaria has been living through a period of transition from centralized totalitarian control to free market economy. Year 1990 can be said to mark the political liberation of the people with the adoption of the new Constitution. The economic liberalization, however, is a reality yet to be brought to life since private ownership is not prevalent in the economy. The prime aim of the transition is to substitute an absurd and inefficient economic system for a new one to rely on the free initiative, private ownership and competition.
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The rapid pace of political and economic changes over the last three years have faced Bulgaria with a great variety of challenges. The transition to a democratic society and a market economy, which is taking place under a deepening economic crisis, has caused - or, rather, made obvious - a number of acute problems. Against this background, unemployment and poverty proved to be the social problems with the highest conflict-generating potential.
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In 2015 Bulgaria has regained one position compared to the previous year in the economic competitiveness ranking of the World Competitiveness Yearbook (WCY), published by the Institute for Management Development (IMD). The country is ranked 55th out of 61 economies. This is only a marginal improvement and remains significantly lower compared to its highest achievement in 2009 – 38th place. The ranking highlights two particular commonalities among the best ranking countries. Firstly, nine countries from the top 10 are also listed in the top 10 of the business efficiency factor. And secondly, all top positions are occupied by economies which are driven by innovation-based growth. In the policy brief the Center for the Study of Democracy provides the following recommendations for increasing the competitiveness of the Bulgarian economy: • Tackle high level corruption and state capture; • Modernize public administration and strengthen independent regulators; • Adopt education for innovation-based growth; • Tackle energy poverty, energy intensity and supply dependency; • Improve the country’s branding.
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A bad film might include such features as unconvincing actors, a predictable plot, forced lines, unnecessarily explicit love scenes and a nonsensical ending. In which case Serbia’s foreign policy during the state of emergency, declared in response to the COVID-19 pandemic, looks like a multiple winner of the Golden Raspberry award. Maladjusted to the new circumstances, she remained silent when she should have spoken out, spoke the wrong lines at the wrong moments, stammered and overacted only to come to the expected unhappy end – on bad terms with her most important international partners and in a firm embrace with those who are unpredictable.
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