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The fall of communism and subsequent developments have put a renewed spotlight on the potential of the Balkan economies. Bulgaria, Albania, Serbia & Montenegro, Romania and the Former Yugoslav Republic of Macedonia are countries which have attracted low levels of investment and poor political leadership in most of the countries has delayed much needed reforms. However, there are now signs of improvement and this timely book fills a significant gap in the available literature. Demonstrating that these countries must engage as fully as possible with the world economy via EU accession, this book...

The euro was generally considered a success in its first decade. Nevertheless, the unanticipated financial crisis in the summer of 2007 has developed gradually into the worst global economic crisis in post-war economic history and a sovereign debt crisis, calling into question the endurance of positive externalities under the current form of European economic integration. The experience of double-dip recessions in the core of the euro-area and the occurrence of a deflationary spiral in its southern periphery brings into question the wisdom of fiscal consolidation via austerity in the...