What were the political and economic reforms that took place globally in Europe?

In reference to the fall of the Iron Curtain (1989), please respond to the questions: 1) What were the political and economic reforms that took place globally in Europe? Did this event change the distribution of political power amongst the European nations ( 2) Who were at that time the winners and who the losers of the fall of the Iron Curtain? How would you describe the news media’s role under the communist regimes?