- uploaded: Oct 6, 2012
- Hits: 663
As the European Union splinters, Stratfor's Reva Bhalla examines the limits of Continental integration being sought by European policymakers.
For more analysis, visit: http://www.Stratfor.com
The biggest risk brought on by the euro debt crisis is "Balkanization" – the fragmentation of economic interests according to narrow, mainly national criteria .
The term Balkanization is an interesting one. By definition it refers to the process of dividing a large politico/geographic region into smaller groups of states or nations. It originally applied around the turn of the 19th century to the carving up of the formerly Ottoman-ruled Balkan Peninsula into a number of small, opposing nation-states.
The process was repeated in the1990s when Germany and the Vatican’s recognition of Slovenia and Croatia as sovereign states separate from Yugoslavia stimulated the entire breakup of greater Yugoslavia ending in its virtual colonization by the German-led EU.
A valid comparison can today be made between the breakup and colonization of Yugoslavia and a similar tactic German elites are now using to virtually Balkanize the whole EU.
The instrument they are using is the forthcoming eurozone treaty that will endorse a fiscal union of top-tier states—destined to number exactly 10—and result in a second tier of nation-states enjoying lesser recognition than the 10.
There are no keywords present.