Perhaps fathers in Western Europe may in the not too distant future tell their sons: “Go East, young man.” The countries of Central and Eastern Europe are catching up quickly and may one day become the most dynamic economies and societies in Europe. In the meantime, it is clear that Eastern Europe is looking towards the West.
BIS Review 100/1998  –3–  The so-called “fast-track” countries of Central and Eastern Europe will hopefully be ready to join the European Union some time from now, although a number of further reforms still need to be implemented. This is especially true for financial markets and the banking sector. There have been many political statements on the most likely year for accession.