Publication

The Greek financial crisis has been a major developing event for the southern and central Balkans that is unlikely to be quickly resolved by the May 2010 EU ‘bailout’ measures on other than a fairly short term basis. European Union policy towards the Western Balkans has relied on assumptions about Greek state structures that have proved to be of dubious credibility. The crisis offered the EU central financial authorities an opportunity to restore financial disciplines not only to Greece but to other second and third tier EU member countries. In the main this opportunity has yet to be taken.