The Stability Pact – Lessons for the Future
The Stability Pact – Lessons for the Future

Summary/Abstract: As the prospect of full integration has proven to be a powerful incentive for reconciliation, cooperation and internal reforms in South Eastern Europe (SEE), the EU needs to live up to its full commitment that SEE countries will be welcomed as full and equal members once the necessary conditions are fulfilled. Yet, today the engagement of major donors in the Balkans has fallen dramatically. The Stability Pact (SP) community, including the EU, does not have appropriate instruments to promote social cohesion, private investment and sustainable growth in the region. Complicated bureaucratic procedures create difficulties to spend the money available efficiently and may create disappointment among recipient countries. Thus, the credibility of donors is at stake. The SP has been given the difficult task to coordinate partners who sometimes resist to such coordination. For greater efficiency, SEE partners should be granted greater ownership in the design and management of external assistance. The author’s conclusion is: it is high time to build a true partnership with SEE countries.

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