Download publication

Policy Contribution

The Western Balkans on the road to the European Union

Given its geographical location, the region is important to the EU in terms of security, stability, trade and transit routes. The Western Balkan countries’ economic and political prospects and their future within a European framework should remain one of the top priorities for the EU.

By: and Date: February 22, 2018 Topic: Macroeconomic policy

In the 1990s, the Western Balkan region suffered from severe conflicts, which ended after intervention by United Nations and NATO forces and with the promise of accession to the European Union. In the early and mid-2000s, the prospect of EU accession and the global boom facilitated rapid economic recovery in the Western Balkans and boosted economic and institutional reforms. However, the global financial crisis of 2007-09 and the European crisis of 2010-13 slowed the pace of economic growth and amplified high unemployment. In addition, various unresolved legacies from past conflicts slowed the pace of reform and progress towards EU accession.

The European Commission in February 2018 set an indicative deadline (2025) for admission to the EU of the two most advanced candidates – Serbia and Montenegro. This could incentivise all Western Balkan countries, including those candidates that have not yet started membership negotiations (Macedonia and Albania) and those waiting for candidate status (Bosnia and Herzegovina and Kosovo), to remove domestic political obstacles to EU accession, solve conflicts with neighbours, speed up reforms and accelerate economic growth.

The European Union and its member states must not overlook the strategic importance of the Western Balkan region. Geographically, Western Balkan countries form a land bridge and the shortest transit route between the south-east flank of the EU and its central European core. The importance of this transit route was demonstrated during the 2015-16 refugee crisis. Furthermore, Western Balkan economies are already closely integrated with the EU. The EU is their largest trade partner, largest source of incoming foreign investment and other financial flows, and the main destination for outward migration.

Read article More on this topic
 

Opinion

Scorching summers are becoming the new normal. Can Europe prepare itself?

This opinion was originally published in Le Monde, El Pais and Die Zeit. Summer in Europe has barely started, yet a blistering heatwave has already hit France this June, earlier than ever since the start of official records. Forest fires are raging in Spain, and Northern Italy is experiencing a record drought that is ruining […]

By: Klaas Lenaerts, Simone Tagliapietra and Guntram B. Wolff Topic: Green economy Date: July 12, 2022
Read article More on this topic
 

Blog Post

A new European tool to deal with unjustified rising spreads

The European Central Bank needs a new tool to prevent the current rise in spreads, triggered by monetary policy tightening, from escalating into a new euro-area crisis.

By: Grégory Claeys and Maria Demertzis Topic: Banking and capital markets Date: June 20, 2022
Read about event More on this topic
 

Past Event

Past Event

War in Ukraine: Ukraine's place in the EU

In the latest installment of the Sound of Economics Live we debate whether Ukraine's accession to the EU should be facilitated.

Speakers: Alexander Duleba, Ľubica Karvašová, André Sapir and Guntram B. Wolff Topic: European governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: June 14, 2022
Read about event
 

Past Event

Past Event

Three data realms: Managing the divergence between the EU, the US and China in the digital sphere

Major economies are addressing the challenges brought by digital trade in different ways, resulting in diverging regulatory regimes. How should we view these divergences and best deal with them?

Speakers: Susan Ariel Aaronson, Henry Gao, Esa Kaunistola and Niclas Poitiers Topic: Digital economy and innovation, Global economy and trade Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: May 19, 2022
Read article More on this topic More by this author
 

Podcast

Podcast

Global trade Down Under

A conversation on the global trading landscape.

By: The Sound of Economics Topic: Global economy and trade Date: May 4, 2022
Read article More on this topic
 

Blog Post

The decoupling of Russia: European vulnerabilities in the high-tech sector

Although Russia bears the brunt of Western high-tech sanctions, the European Union will face challenges in sectors where it relies on Russian and Ukrainian commodities and technologies.

By: Monika Grzegorczyk, J. Scott Marcus, Niclas Poitiers and Pauline Weil Topic: Global economy and trade Date: April 12, 2022
Read article Download PDF More on this topic
 

Policy Contribution

Inclusive growth

Better pensions for the European Union’s self-employed

What is the current state of pensions policy in Europe and how are independent workers treated compared with their traditionally employed counterparts?

By: Rebecca Christie, Monika Grzegorczyk and Diane Mulcahy Topic: Inclusive growth Date: March 24, 2022
Read article More on this topic
 

Blog Post

The impact of the war in Ukraine on food security

Global food production will be sufficient to feed the global population this year. But export bans, high prices and increasing transport cost might prevent vulnerable countries from procuring sufficient food supplies. Measures to ensure global access to scarcer food supplies and to boost grain production are warranted.

By: Pauline Weil and Georg Zachmann Topic: Global economy and trade Date: March 21, 2022
Read article More on this topic More by this author
 

Blog Post

European governance

A new Thessaloniki offer: the aspirations of Georgia, Moldova, and Ukraine to join the EU

The European Union should grant candidate status to Georgia, Moldova and Ukraine, as part of a long-term stabilisation strategy.

By: Marek Dabrowski Topic: European governance Date: March 15, 2022
Read article More by this author
 

Blog Post

European governance

How should the EU respond to Georgia, Moldova and Ukraine’s membership aspirations?

European Union membership for Georgia, Moldova and Ukraine is at present unrealistic, but they should be offered more than Association Agreements.

By: André Sapir Topic: European governance, Global economy and trade Date: March 14, 2022
Read article More on this topic More by this author
 

Opinion

China’s economic support for Russia is not a panacea

The EU is still Russia’s largest trading partner, actually several times bigger than China.

By: Alicia García-Herrero Topic: Global economy and trade Date: February 28, 2022
Read article More on this topic More by this author
 

Opinion

Global chip shortage may soon turn into an oversupply crisis

Only companies investing in advanced semiconductors will see their margins increase.

By: Alicia García-Herrero Topic: Global economy and trade Date: February 25, 2022
Load more posts