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...complaints: food and fuel shortages, inadequate salaries that are declining in purchasing power, massive budget deficits. It presumes a lot to think that East Europeans will sit quietly through the price hikes, plant closings, job layoffs and other austerity measures ahead. "It's a race against time," says Dominique Moisi, deputy director of the French Institute for International Relations. "Can the democratization of politics beat the Third-Worldization of their economies...

Author: /time Magazine | Title: There Goes the Bloc | 11/6/1989 | See Source »

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