Külgazdaság Vol. 1-2/2020

Abstracts of the Articles


Has the crisis been approaching?

Economists all over the world have been long pondering what kind of crisis has been approaching, would it bring economic slowdown or recession – and when.

Other economists have been gauging whether the world is more resistant to global recession than it was in 2008. Again, others have been gathering the characteristic features of the „new norm” or „new normality” and have been hesitating what developments should economic and monetary policies prep for.

Külgazdaság wants to participate in these global discussions. We asked our authors to share their opinion of rears and hopes. They can, of course, concentrate on any aspects of this huge topic.

We wish to follow and forecast even the Hungarian issues. What risks do our authors foresee – global turbulence, bust after the boom, recession etc. – which will close the period of rapid economic growth?

Challenges of deepening free trade in the Southern Mediterranean


The European Union has signed dozens of free trade agreements in the last decade. These free trade agreements contain not just the abolishment of barriers for trade in goods, but they are much broader in their scope, regulating several other issues related to trade. The main aims of these agreements are to increase the competitiveness of the EU and to secure markets and investment opportunities for European firms. In case of neighbouring regions like the Mediterranean, however, the EU has offered so called Deep and Comprehensive Free Trade Agreements. The DCFTAs require a one-sided harmonisation of trade-related areas of the legal system with the EU’s acquis communautaire, which not only makes the partner countries part of the single market, but it should increase their competiveness as well. Additionally, it should decrease the security risk related to these regions for the EU. Though the optimal outcome of the DCFTAs may have positive impacts overall, and may promote the global integration of the Southern Mediterranean region, but currently the risks of these agreements seem to be larger than the opportunities offered.

The legal framework of EU private international law relations with the UK after Brexit

Katalin Raffai

The United Kingdom has left the European Union on the 31st January 2020, after which there will be an 11-month transition period terminating 31 December 2020. This study summarizes it briefly how the future private international law relationship will be changed between the UK and the EU.

Posted in Egyéb