Evaluation of the Macroeconomic Stability of Central and Eastern European Countries with a View Toward their Membership in the European Union. Multidimensional Risk Analysis

The economies of European countries have been undergoing constant turbulence for several years. This is the consequence of a range of factors, in particular: the 2007 crisis; violations of the convergence criteria and fiscal discipline; problems with the liquidity of international financial markets; depreciation of the euro currency; increasing unemployment in European Union Member States; the slow increase in productivity in the majority of EU economies; growing indebtedness of public finance sectors; problems with retirement schemes – in particular with correlation between their effectiveness and unemployment and low rate of natural increase