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Another Lamb To The Slaughter

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Grim Future For Croatia In EU - Hey, Join The Club

It is unlikely that the small country will benefit from EU accession.

A deep economic crisis has battered Croatia for the last five years. Government debt is growing rapidly, and two rating agencies have already downgraded Croatian bonds to junk status. As such, the country will probably have to be subsidized from EU coffers for the foreseeable future.

Polls show that only 39 percent welcome the accession to the EU. "We feel like an uninvited guest who shows up too late for the party," says a banker in one of the street caf├ęs in Zagreb, the capital.

In fact, the dream of Europe is likely to become a nightmare for many. More than half of young Croats are unemployed, and the overall unemployment rate is about 20 percent. Tough competition from the EU will drive many obsolete companies out of business once and for all.

Even Greece, Bulgaria and Romania are in better shape, according to World Bank statistics.

The EU negligently overlooked the structural problems during accession negotiations. Even a government representative says: "The economy urgently needs to be de-bureaucratized." But experience has shown that the desire to change quickly wanes after a country has joined the EU.

But German companies, in particular, will profit from the change. They are mesmerized by the prospect of 4.4 million new customers who are especially fond of German brands like Miele, Volkswagen and Adidas.

Der Spiegel. 'Late for the Party'

At the time of accession, The protest movement Occupy Croatia held an anti-EU march, saying in a statement that "the European Union is not a solution to our problems".

"The entry into the European Union is an economic genocide over the people living in our country," the group said in a statement, blasting the EU as a "union tailored for rich corporations and their politicians".

Some suggest Croatia might need a bailout within a few months of joining in July this year.

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I don't see the problem.

They already have the wobbly economy, youth unemployment and pretty much everything else they need to be a bona fide, peripheral European basket case. The country is a natural fit - financially, geographically, politically. There's even room for a housing and infrastructure boom fed by German money looking for a slightly better return.

What could possibly go wrong?

Edited by Stainless Sam

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Grim Future For Croatia In EU - Hey, Join The Club

At the time of accession, The protest movement Occupy Croatia held an anti-EU march, saying in a statement that "the European Union is not a solution to our problems".

"The entry into the European Union is an economic genocide over the people living in our country," the group said in a statement, blasting the EU as a "union tailored for rich corporations and their politicians".

Some suggest Croatia might need a bailout within a few months of joining in July this year.

http://en.wikipedia.org/wiki/Croatian_European_Union_membership_referendum,_2012

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I don't see the problem.

They already have the wobbly economy, youth unemployment and pretty much everything else they need to be a bona fide, peripheral European basket case. The country is a natural fit - financially, geographically, politically. There's even room for a housing and infrastructure boom fed by German money looking for a slightly better return.

What could possibly go wrong?

Next they'll be joining the EURO so they can't print billions of funny money as a tactic to avoid facing up to years of mismanaging their economy.

There's even room for a housing and infrastructure boom fed by German money looking for a slightly better return.

Nah nothing left, it's all piling into the UK house price bubble. Save the pound.

Edited by campervanman

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