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The recent financial crisis has highlighted the lack of analytical frameworks to help predict the global financial imbalances. The recent financial crisis has determined an increasing number of countries to use macroprudential instruments, in order to avoid systemic risks. According to the policy objective that wants to be achieved, country’s authorities have to choose among several instruments. Work on selecting and applying macroprudential instruments is a priority in the European Union, both at a national and at entire Union. In the case of Eastern Europe countries, the authorities adopted several measures to curb bank lending in foreign currency, subject that will be treated in the present paper.

This paper aims at investigating the existence of accounting heredity in some of Eastern European countries. Accounting heredity assumes that at the time the economic paradigm changes, a new accounting system emerges, enclosing both genes from the existing accounting system, as well as genes from a new accounting system used as an inspiration. Data was gathered by sending questionnaires to academics in the respective countries. Studied countries fell into two categories: Ex Soviet countries (Republic of Moldova & Ukrane), and other Est European countries (Romania, Republic of Macedonia and the Czech Republic). It analyses the survival of communist accounting practices in the post-1990 accounting systems and identifies other eternal influences that shaped these accounting systems.

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The conventional sources of the concept of political conditionality are the constitutional traditions of the member states or the international reference instruments in the protection of human rights and fundamental freedoms created in the framework of various international organisations. The relations with the countries in transition from Central and Eastern Europe have been a source but also a continuous application of the principle of conditionality. It is for the purpose of welcoming the new democracies from the East that the EC began to establish a mechanism that binds together democratic reform and the deepening of cooperation. As a consequence, this principle gained the whole of EU foreign relations. The construction of the concept of political conditionality owes a lot to doctrine as well as to the contribution of various law or political science experts. [ABSTRACT FROM AUTHOR]