There has not been a long, gradual, spontaneous evolution of institutions, rules or networks of relations based on the enormous variety of human interests, hopes, dreams and ambitions as in your country. Such an intermediate structure cannot be imposed upon society from above, it has to evolve. In our society, the strong and noisy pressure groups often succeed in using legislation for gaining powers and privileges at the expense of both individual citizens and the state and for shifting society from traditional liberal democracy to neocorporativeism. Second problem is connected with the existing fragility and vulnerability of transition economies and with the growing requirements of a globalized environment. Transition economies have, at the same time, investment-savings imbalances and they need foreign capital to ensure some sort of equilibrium.
Foreign capital wants, however, fixed exchange rates and easy outflow's possibilities.
All of that does not simultaneously exist and will probably never exist. The reconciliation of all those variables cannot be easily masterminded ex-ante. It creates, however, a politically and socially very complicated situation and, as a result of it, the political support for the continuation of transformation is underminded. This is what we have seen in recent years, and paradoxically especially in more successful transition economies. Some of us know the microeconomic assumptions which are necessary for the existence of an optimum currency area.