ROMANIA'S STANDARD OF LIVING AFTER THE ACCESSION TO THE EU

ABSTRACT. Hoek writes that immediately after the fall of communism in Central and Eastern Europe there were high hopes for a favorable economic development in the region. Bilefsky maintains that Romania and Bulgaria (the European Union's poorest members) hope that membership helps them raise their per capita wealth (one-third of the Union average). Gallagher maintains that the key sectors of Romania's economy are controlled by foreign capital, much of the middle-class emigrates.