Although the Greek banks reopened on July 20, and Athens repaid some of its debt to the International Monetary Fund and the European Central Bank, unease about the Greek crisis continues in the Balkans. The last 25 years of turbulent political and economic transition have taught the former Communist countries in the region that economic change and financial recovery are slow to come and require political will. Confidence in Greece’s SYRIZA-led government, however, is low, and the Balkan countries prefer to take precautions to limit the potential spillover of a financial collapse in Greece.
In May, the IMF warned that …read more
Source: The Jamestown Foundation