• Thu. May 16th, 2024

The Economic Success of the EU’s 20-Year Eastward Enlargement

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May 2, 2024

The countries that joined the EU in 2004 have seen significant economic growth, with their gross national products increasing, agricultural production tripling, and unemployment rates halving during their membership. The 20th anniversary of the EU’s eastward enlargement was celebrated on May Day, marking the accession of ten new countries in 2004, eight of which were former Eastern Bloc countries. President of the EU Commission, Ursula von der Leyen, referred to the eastward enlargement as the beginning of a new era in a recent speech.

The integration of East and West through the EU enlargement brought stability and prosperity to Europe, preventing the former Eastern bloc countries from falling back into Russia’s sphere of influence. The expansion to the east was hailed as a great geopolitical and economic success story, with positive impacts on the lives of EU citizens in the new member states. However, challenges remain as the EU looks towards further enlargement, particularly concerning the state of the rule of law and freedom of speech in potential new member countries.

The next round of EU enlargement in the coming decade is expected to face obstacles, particularly when it comes to countries like Ukraine, which could pose financial challenges for current EU member states. Changes in decision-making methods within the EU will also be necessary to address issues such as market disruptions in Eastern Europe caused by Ukrainian grain exports. It is crucial for the EU to promote the membership aspirations of countries like Ukraine and Moldova and to ensure that new member states uphold Western values and principles.

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