Question

Discuss the kinds of economic, social, and political changes that have taken place in eastern European countries since 1990.

Answer 1

Following the collapse of the Soviet Union in 1991, the turbulent period of economic transformation for Eastern Europe begin. As Russia stopped supplying natural gas to former Soviet countries and sold it to the world market, putting Eastern European industries at risk because they could not operate without Russian natural gas. As a result, many Eastern European countries look to the EU. Countries such as Hungary, the Czech Republic and Poland have begun to shift their economies to capitalist and privatisation models. Unfortunately, many people are unable to buy new goods and services from the European Union due to Soviet subsidies, but most Eastern European countries still had the goal of reaching the EU.