On the other hand, from a medium-term perspective, the right measures have to be taken to avoid a renewed build-up of unsustainable economic positions. Achieving sustainable economic growth and thereby rethinking the appropriate growth model is of utmost importance in solving the current economic challenges.
This especially holds true for the countries in Central, Eastern and Southeastern Europe (CESEE), where the boom-bust cycle has been extraordinarily pronounced and the catchingup of income levels to those in Western Europe has been set back for several years since the outbreak of the crisis.