Hard currencyIn macroeconomics, hard currency, safe-haven currency, or strong currency is any globally traded currency that serves as a reliable and stable store of value. Factors contributing to a currency's hard status might include the stability and reliability of the respective state's legal and bureaucratic institutions, level of corruption, long-term stability of its purchasing power, the associated country's political and fiscal condition and outlook, and the policy posture of the issuing central bank.
Revolutions of 1989The Revolutions of 1989, also known as the Fall of Communism, was a revolutionary wave of liberal democracy movements that resulted in the collapse of most Marxist–Leninist governments in the Eastern Bloc and other parts of the world. Sometimes this revolutionary wave is also called the Fall of Nations or the Autumn of Nations, a play on the term Spring of Nations that is sometimes used to describe the Revolutions of 1848 in Europe.
CommunismCommunism (from Latin communis) is a left-wing to far-left sociopolitical, philosophical, and economic ideology within the socialist movement, whose goal is the creation of a communist society, a socioeconomic order centered around common ownership of the means of production, distribution, and exchange that allocates products to everyone in the society based on need. A communist society would entail the absence of private property and social classes, and ultimately money and the state (or nation state).
Iron CurtainThe Iron Curtain is a political metaphor used to describe the political boundary dividing Europe into two separate areas from the end of World War II in 1945 until the end of the Cold War in 1991. The term symbolizes the efforts by the Soviet Union (USSR) to block itself and its satellite states from open contact with the West, its allies and neutral states. On the east side of the Iron Curtain were the countries that were connected to or influenced by the Soviet Union, while on the west side were the countries that were NATO members, or connected to or influenced by the United States; or nominally neutral.
Hungarian Revolution of 1956The Hungarian Revolution of 1956 (23 October – 4 November 1956; 1956-os forradalom), also known as the Hungarian Uprising, was a countrywide revolution against the government of the Hungarian People's Republic (1949–1989) and the policies caused by the government's subordination to the Soviet Union (USSR). The uprising lasted 12 days before being crushed by Soviet tanks and troops on November 4, 1956. Thousands were killed and wounded and nearly a quarter-million Hungarians fled the country.
Western worldThe Western world, also known as the West, primarily refers to various nations and states in the regions of Australasia, Europe, and the Americas. The Western world likewise is called the Occident () in contrast to the Eastern world known as the Orient (). The West is considered an evolving concept; made up of cultural, political, and economic synergy among diverse groups of people, and not a rigid region with fixed borders and members. Definitions for "Western world" vary according to context and perspectives.
North VietnamNorth Vietnam, officially the Democratic Republic of Vietnam (DRV; Việt Nam Dân chủ Cộng hòa), was a socialist state in Southeast Asia that existed from 1945 to 1975, with formal sovereignty being fully recognized in 1954. A member of the Eastern Bloc, it opposed the French-backed State of Vietnam and later the Western-allied Republic of Vietnam (South Vietnam). North Vietnam emerged victorious over South Vietnam in 1975 and ceased to exist the following year when it unified with the south to become the current Socialist Republic of Vietnam.
Prague SpringThe Prague Spring (Pražské jaro, Pražská jar) was a period of political liberalization and mass protest in the Czechoslovak Socialist Republic. It began on 5 January 1968, when reformist Alexander Dubček was elected First Secretary of the Communist Party of Czechoslovakia (KSČ), and continued until 21 August 1968, when the Soviet Union and most Warsaw Pact members invaded the country to suppress the reforms. The Prague Spring reforms were a strong attempt by Dubček to grant additional rights to the citizens of Czechoslovakia in an act of partial decentralization of the economy and democratization.
Eastern EuropeEastern Europe is a subregion of the European continent. As a largely ambiguous term, it has a wide range of geopolitical, geographical, ethnic, cultural, and socio-economic connotations. The region stretches from the Ural Mountains in the east to the borders of Poland and Romania. Most definitions include the countries of Belarus, Russia, and Ukraine while less restrictive definitions also include Bulgaria, the Czech Republic, Hungary, Moldova, Poland, Romania, and Slovakia.
Socialist stateA socialist state, socialist republic, or socialist country, sometimes referred to as a workers' state or workers' republic, is a sovereign state constitutionally dedicated to the establishment of socialism. The term communist state is often used synonymously in the West, specifically when referring to one-party socialist states governed by Marxist–Leninist communist parties, despite these countries being officially socialist states in the process of building socialism and progressing toward a communist society.
