Central Europe today is a space of nostalgia. On one hand, Prague and Budapest are full of Western tourists in search of the feeling of the "old world," slightly dusty and technologically slightly behind. On the other hand, in part of the Contemporary Central European cultural production, this space is represented as a borderland where cultures and populations mix freely, and where the ideals of democracy and tolerance are reactualized through the fantastic structure of nostalgia. This study addresses the question of nostalgia in relation to history, memory and culture. It explores the origins of nostalgia and its manifestations in the contemporary Central European cultural production through close reading of a novel, film and a website. It seeks to understand the historical and social conditions behind the fantastic structure of the nostalgic reconstruction of Central Europe, contradictions and limitations of such projects, as well as their emancipatory potential.