ABSTRACT
In 1989 the communist system in Central and Eastern European countries broke down. As a result their political and economic systems, ideologies and international relations have been reshaped. Their economies are in the process of moving from centrally planned systems to market economies. This is an all-embracing and sometimes painful transformation. It involves liberalization of the former bureaucratic management of the economy, stabilization of demand, privatization of former state-owned enterprises and economic restructuring.
