The world economic and financial crises that started in the developed economies affected the majority of the countries. Due to the dynamic global development in 2002-2007 the new emerging markets have been exposed to both the positive advantages from this and the appearance of vulnerabilities. Fortunately, when the crises started, the world decision factors reacted rapidly and implemented important measures to protect and to avoid the most serious consequences. Still, the cost of the crises is very high. Among the key factors that lead to the decline of the Central and Eastern Europe are the following: the global trade integration of the countries in transition, the financial openness and the flow of remittances. In order to minimize the effects of the crises, each emerging country should consider its national specific features in order to take appropriate measures and to avoid all possible side affects.