The Deepening Crisis in the European Super-periphery

Type Journal Article - Journal of Balkan and Near Eastern Studies
Title The Deepening Crisis in the European Super-periphery
Volume 15
Issue 4
Publication (Day/Month/Year) 2013
Page numbers 367-382
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 EU bailout funds and policy instruments that are available to ease the crisis impact on the ‘peripheral’ EU Member States. 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 in a comparative perspective, considering the crisis effects in six countries (Albania, Bosnia and Herzegovina, Croatia, Macedonia, Montenegro, Serbia). It 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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