The package – the first comprehensive constitutional reform in the Soviet bloc – changed Hungary's official name to the Republic of Hungary and transformed the country from a one-party Marxist-Leninist state into a multiparty democracy. The revised constitution guaranteed human and civil rights, and created an institutional structure that ensured separation of powers among the judicial, executive, and legislative branches of government. The revised constitution also championed the "values of bourgeois democracy and democratic socialism" and gave equal status to public and private property. Although the now-dissolved MSZMP had already given up its monopoly of power in February, these changes marked the final legal step toward ending Communist rule in Hungary. On the 33rd anniversary of the 1956 Revolution, 23 October, the Presidential Council was dissolved. In accordance with the constitution, parliament Speaker Mátyás Szűrös was named provisional president pending elections the following year. One of Szűrös' first acts was to officially proclaim the Republic of Hungary. Hungary decentralized its economy and strengthened its ties with western Europe; in May 2004 Hungary became a member of the European Union. Economy As a member of the Eastern Bloc, initially, Hungary was shaped by various directives of Joseph Stalin that served to undermine Western institutional characteristics of market economies, liberal democracy (considered as bourgeoisie democracy in Marxist thought), and rule of law. The Soviets modeled economies in the rest of the Eastern Bloc, such as Hungary, along Soviet command economy lines. Economic activity was governed by Five Year Plans, divided into monthly segments, which are drafted in order to meet plan targets for the period, and made use of methods such as material balance planning similar to other Soviet-type command economies. The plans prioritized investment for producer goods over consumer goods. Consumer goods soon began to lack in quantity, resulting in a shortage economy, and lack of user feedback without other incentives for innovation led to a lack of quality as well. Overall, the inefficiency of later economic systems without mechanisms for feedback present in other economies, such as competition, market-clearing prices or subsidies for innovation became costly and unsustainable. Meanwhile, other Western European nations experienced increased economic growth in the Wirtschaftswunder ("economic miracle"), Trente Glorieuses ("thirty glorious years"), and the post-World War II boom. Housing shortages emerged. The near-total emphasis on large low quality prefabricated apartment blocks, such as Hungarian Panelház, was a common feature of Eastern Bloc cities in the