The Deepening Crisis in the European Super-periphery

Abstract:

In this paper we argue that the Western Balkans form part of a ‘super-periphery’ of Europe, being highly vulnerable to the effects of the Eurozone crisis, yet lacking support from the European Union (EU) bail out funds and policy instruments that are available to ease the impact of the crisis on the ‘peripheral’ EU member states. In the Western Balkans the crisis has been transmitted through several channels including exports, remittances, foreign investment and bank credit flows. The paper investigates the impact of the Eurozone crisis on the region and questions whether the EU accession process continues to offer hope of economic prosperity in the future or whether the countries of the super-periphery should rely more on their own resources, new alliances and regional cooperation to support future economic growth.

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