EU Enlargement and Financial Crisis

Jana Ilieva, Aleksandar Dashtevski and Natasha Ristovska

International Journal of Academic Research in Business and Social Sciences, 2017, vol. 7, issue 1, 153-163

Abstract: The global economy faced a financial crisis involving banking systems, stock markets and the credit flow. Seeking common strategies to solve the difficulties, European institutions coordinated national responses and made recommendations to improve the financial system. European leaders have defined a common approach for restoring confidence in the financial industry and preserving economic growth. The reform was “all-encompassing” and included more international supervision to ensure transparency and accountability. EU enlargement is not officially connected with the crises so the stopping of the enlargement process and introducing new barriers in Europe is not an option. In this paper the analyzis is maderding to the data and situations noted in the European commission report. The split interests and objections for further enlargement in the member states, such as France and German are interpreted as well. Research analyzis shows that EU the candidate countries have progression in economic growth in the time of the financial crisis which is not case with some of the EU member states. Therefore, EU enlargement should continue as important policy that will ensure prosperity in Europe.

Keywords: European Union; Copenhagen criteria; member-states; candidates (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:hur:ijarbs:v:7:y:2017:i:1:p:153-163

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