Completing The Enigma: Should Balkan Countries Be Part Of The Eurozone

Abstract

Within this research is discussed the topic about the costs and benefits of being in the eurozone. If we start from this, many countries, even though they have not benefited from the free trade of the eurozone, have entered the eurozone. Realistically, if the costs and benefits are analyzed, the benefits are high. Staying within a monetary union creates benefits for the countries that are part of the union because it eliminates transaction costs, creates greater security in economic terms that make the country more attractive to investors and in addition to foreign investors the country becomes more attractive to promote domestic investment. Staying within a monetary union affects greater price transparency by increasing productivity and lowering inflation. That is why the Balkan countries need to start thinking about joining the eurozone.

Seeing that these countries carry out trade to a large extent between them, this avoids transaction costs, increases competition and makes trade development easier. There are many economists who think that joining the eurozone, for some countries, is still early. Despite this, there are those who think that now is the time for the Balkan countries to join the eurozone and move towards the path of its prosperity.