After the failed coup attempt, it was only a few months until the Soviet Union completely collapsed. Both the government and the people realized that there was no way to turn back the clock; the massive demonstrations of the “August days” had demonstrated that the population would accept nothing less than democracy. Gorbachev conceded power, realizing that he could no longer contain the power of the population. On December 25, 1991, he resigned. By January of 1992, by popular demand, the Soviet Union ceased to exist. In its place, a new entity was formed. It was called the “Commonwealth of Independent Republics,” and was composed of most of the independent countries of the former Soviet Union. While the member countries had complete political independence, they were linked to other Commonwealth countries by economic, and, in some cases, military ties.
Now that the Soviet Union, with its centralized political and economic system, has ceased to exist, the fifteen newly formed independent countries which emerged in its aftermath are faced with an overwhelming task. They must develop their economies, reorganize their political systems, and, in many cases, settle bitter territorial disputes. A number of wars have developed on the peripheries of the former Soviet Union. Additionally, the entire region is suffering a period of severe economic hardship. However, despite the many hardships facing the region, bold steps are being taken toward democratization, reorganization, and rebuilding in most of the countries of the former Soviet Union.