Editor's note

Two main issues came up from an extraordinary summit a couple of weeks before: the next EU 2021–2027 budget of €1,074,3 billion was agreed upon by the European leaders and a rescue package of € 750 billion (on top of the enormous budget), some in loans (€360 bn) and some in subsidies (€390 bn).

In this way the financial resources have been allocated to tackle the economic and social consequences of the pandemic crisis, although the “rescue size” has not been up to the two institutions: the Commission’s expectations in the draft and the proposals from the European Parliament.

More on the summit in: https://www.integrin.dk/2020/07/28/after-extraordinary-july-2020-summit-a-second-opinion/

National “strategic governance” shall concentrate on combining the EU priorities with that of the member states’ growth patterns. Both the EU institutions and the member states have to re-assess their traditional growth patterns to adequately react to the present and possible future chocks. The EU as a whole as well as the Baltic States and Latvia have to elaborate resilient economies’ structures adequate to modern global and European challenges.

The national elites are, of course, fully aware of the “assignment’s” difficulties for governance system, existing public institutions as well the whole nations: the tasks are really extraordinary and complex.

But the Baltic States have had already numerous difficult periods during a century of independence from which they emerged democratic and economically strong. Presently, the Baltic States’ leaders are having both the political will and peoples’ support to overcome numerous existing difficulties for the benefit of the people.

Decision-makers cannot wait longer: their patriotic task is to react quickly and forcefully…

A “business plan” for decision-makers

 Analysing the outcomes of the summit and looking into the EU’s “political kitchen”, here are some hints for the Baltic States elites and governing institutions.

= Modern EU financial issues and the Baltic States’ growth agenda.

1/ Making known for a wide public the approved financial “packages”: the MFF for 2027 and a rescue package to assist the states in need;

2/ Showing in the social media the exact financial resources allocated to the Baltic States;   

3/ Defining present challenges for all walks of life in the Baltic States affected by the pandemic: e.g. in consumption, energy, transport, culture, education, etc.

4/ To correlate the EU and the states’ national investment strategies and priorities

= Perspective reforms in the Baltic States

1/ While a particular attention shall be given to rescue measures in tackling the pandemic aftermath, the national strategies shall cover a more distant perspective;  

2/ Keeping in mind the European political priorities for 2017 (6+1) in formulating national long-term strategies and investment patterns;

3/ Increasing export potentials and reviewing the composition of internal consumption to be covered by national producers;  

4/ Cooperation among the three Baltic States is becoming a great additional resource: the contacts among various socio-economic sectors shall be facilitated.  

 = Baltic States’ socio-economic development in the post-COVID period 

1/ Resilient growth shall become a strategic perspective with new attention to research on the “COVID-economics”;

2/ Resuming scientific analysis of modern national political economy in the Baltics with a particular attention to the welfare society’s vision and priorities; 

3/ Assisting national entrepreneurs in all possible ways: e.g. by researching the “business technology” directions;   

4/ Looking into new approaches to labour/trade unions (in association with the tripartite representatives: government, as well as employees and employers’ associations); 

5/ Analysing potentials of the perspective education trends and “getting new skills” programs;  

Bottom-line. These decision-makers’ efforts are being aimed at raising the so-far “low-income” Baltic States into a higher levels with increasing attention to citizens’ happiness. However, to rely upon the Union’s financial support from a “great rescue package” is not any more a sure thing: the EU funds for science, research, education, innovation (?), climate, migration and health programs (?) have been cut down. Therefore, the main attention shall be given to a more efficient use of existing national resources: thus a hard summer vocation time for decision-makers…