Central and Eastern Europe has seen remarkable economic growth since joining the European Union, contributing 8.7% to the EU’s GDP. The opening of the border fence in 1989 marked the beginning of the dismantling of the Iron Curtain that divided Eastern and Western Europe. This was followed by the EU’s expansion in 2004, which further integrated eight countries into its legal framework, with additional countries joining in subsequent years.
The economic success of countries such as Czech Republic, Slovakia, Poland, Hungary, and Slovenia has been nothing short of impressive. Trade within the region has also grown significantly, with Poland and Hungary seeing significant growth in foreign trade. The banking sector in these countries shows promise for further development.
Despite this success, political challenges were not fully anticipated during the EU’s eastward enlargement. There has been a rise in right-wing populist parties in the region, leading to increased skepticism towards the EU. While joining the EU brought benefits for many, there were also clear losers in the process, such as older individuals who may have lost job opportunities.
Experts suggest that future EU enlargements should consider geopolitical and social components more carefully to address the concerns of all citizens. The integration of Central and Eastern European countries into the EU has brought economic prosperity but also highlighted the importance of understanding and addressing political and social challenges.
In conclusion, Central and Eastern Europe has been a successful economic story for the European Union since its enlargement in 2004. However, it is important to recognize that political problems were sometimes underestimated during this process. To avoid similar issues in future enlargements, experts suggest considering geopolitical and social components more carefully to ensure that all citizens are taken into account.