EU as a global actor
According to a well-known Italian Research Centre, from 2003 to 2014 the European single currency cost an 11% GDP reduction throughout the Eurozone and 18 million additional unemployed people. Conversely, as a result of the Maastricht agreement only, throughout the Eurozone we have lost 8 million jobs and an additional 5% of Gross Domestic Product, owing to the obligation to eliminate deficit and cut investment.
The European integration of the Western Balkans seems to be stuck between declarative political promises and reality on the ground. There is general consensus, both within and outside the region, that the only realistic project for achieving sustainable stability and prosperity in the Balkans is integration with the European Union (EU). Today, the completion of the “European project” for the region is threatened by serious challenges.