When Reform Doesn't Pay the Bills


HEAD BOY: Gyurcsany after a vote of confidence this month

What's gnawing at Slovakia? Its economy is booming — up 50% in the past four years — and a series of radical free-market measures, including flat taxes, have helped to attract billions of euros in foreign investment. Some salaries have doubled, home mortgages are all the rage and the country (pop. 5.4 million) will soon become the world's top producer of cars per capita.

Yet when they voted in elections this summer, the Slovaks threw out the government and replaced it with one headed by Robert Fico, a lawyer turned politician who's promising to tax the rich...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!