Croatia enters European Union
Croatia was added into the European Union (EU) on July 1, 2013 making the total number of member states in the EU to 28. Croatia is the second country from the once war-torn former Yugoslavia to enter the bloc. It negotiated with the EU for more than 6 years after the bloc agreed to embrace it.
Croatia which is struggling with its economic woes has joined the EU amid concerns whether the country is fully prepared to face the fierce competition of the open market. The economy has been battered by the ongoing financial crisis and owing to structural weaknesses that yet need to be addressed by reforms.
From this event Croatia is hopeful that it will help to lift many people out of poverty and modernzse the economy. Croatia will also receive funds from the EU to build roads, clean up the environment and increase research and development.
However, there are concerns that tough EU competition will shut down or buy out parts of the national economy. There is concern about whether EU membership will lure immigrants seeking work, which could put the reeling labour market under even more pressure.
Month: Current Affairs - July, 2013