jan 1, 1989 - Collapse of Warsaw Pact Member States

Description:

1989 saw the overthrow of socialist governments throughout the Warsaw Pact, with Hungary, Czechoslovakia, the German Democratic Republic, and Poland experiencing nonviolent liberal democracies be imposed. This was not the case in Romania where the President was killed on live TV, but nonetheless a liberal democratic government was set up there as well. These states quickly underwent privatization of state assets which overall led to dips significant in quality of living and massive increases in inequality.

Added to timeline:

Date: