By Anastasios Karasavvoglou, Persefoni Polychronidou
The realm is altering swiftly. the worldwide monetary main issue has referred to as into query the political judgements which have been made via all international locations for many years and has ended in a re-formulation of instruments and goals. alterations to the recent scenario are invaluable and entail substantial monetary and social expenditures. The Balkan and Black Sea zone is a vital reference element for the eu and worldwide financial system. consequently, the research of the industrial improvement within the quarter is of significant curiosity, enticing politicians and scientists alike. below this framework, the problem of the relation among the area’s nations and the E.U., the position of the banking process and the significance of the first zone of the economic climate as a tremendous developmental issue for the nations’ economies are of serious importance.
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Extra resources for Balkan and Eastern European Countries in the Midst of the Global Economic Crisis
Ex-Yugoslavs lost a great deal of space when Yugoslavia broke apart. In Yugoslavia, a Serb could easily travel and have vacation on the coast, but, now, the coast is no longer too viable an option. ” (Petrovic 2007), that is, in essence Yugoslavia may not have been better than today’s countries but this does not mean that life in them is better. For this reason, when former Yugoslavs talk about Yugoslavia they enter a secure area in which they felt most comfortable, shared values and lived with dignity during the time they lived united (Petrovic 2007) as unemployment rates were low, and people used to live in a stable, rich country that had a good educational system.
Discussion paper series, 15(2):23–44. pdf Szeles MR, Marinescu N (2010) Real convergence in the CEECs, euro area accession and the role of Romania. Eur J Comp Econ 7(1):181–202, ISSN 1722–4667 Rosenberg D (2000) Eastern enlargement of the European Union: problems of convergence. Massachusetts Institute for Social and Economic/University of Massachusetts-Amherst/ Institute for International Economic and Political Studies/Russian Academy of Sciences, Moscow Sala-i-Martin X (1996) Regional cohesion: evidence and theories of regional growth and convergence.
The first enlargement, though not in terms of GDP, took place in 2004 by including eight CEE countries. According to Gros and Steinherr (2001), the transition of the CEE countries was completed in 1997 though some differences remained between the states of Central Europe and the Baltic region and the rest of the countries. Cavenaile and Dubois (2011) supported that there has been still a long way for the CEE countries towards income convergence. These countries, though aiming at joining the EU were not forming a homogenous group of economies with similar characteristics.