A growing literature has analysed capitalist institutions in Slovenia and Estonia, two countries often viewed as representing very different varieties of capitalism in Central and Eastern Europe. Slovenia has been unique in the region, given its highly centralized wage bargaining and the importance of corporatist institutions, notably the tripartite Economic and Social Council; it is thus an exception to the general pattern of weak unions and ‘illusory corporatism’ across the region. By contrast, Estonia is commonly viewed as a prime example of a liberal market economy, in which industrial relations are decentralized. This article analyses how these distinctive institutional configurations have shaped the two countries’ responses to the global economic crisis beginning in 2007–2008. It explores whether these institutions have undergone changes as a result of the crisis, and also seeks to identify lessons from this experience for the future prospects for corporatism and tripartism, and also for the revitalization of trade unions and progressive politics in Central and Eastern Europe more generally.