Recently, some media relying on a reliable source leaked by a Serbian government official, reported that pending failure to win the votes for its controversial draft-resolution at UN General Assembly, Serbia has prepared another secret plan, which in exchange for letting go of Kosovo seeks from the U.S., EU and other relevant factors as compensation nothing less than the repayment of the $31 billion external debt of this country.
Serbia's external debt is around $31 billion dollars, or about $4,000-5,000 per capita. Serbia is ranked among the countries most burdened by foreign debt.
A report by IZIT, a Serbian trade research institute, says that this plan is already on the table of Serbia's President Boris Tadic, which will be used at the end of this game. The debt of the former Yugoslavia before its destruction by Serbia's chauvinistic policies was about 22 billion dollars, but the beginning of a series of crises since 1990 saw it grow to 121 billion dollars. Serbia alone has over 31 billion dollars in debt. While Kosovo, as one of the constituent federal unit in the former Yugoslavia, had over a billion dollars in debt. At the request of Serbia, before declaration of Kosovo's independence, the World Bank forgave the debt of Kosovo in the amount of 550 million, because Serbian Government argued that Kosovo's debt is not Serbia's obligation (and Kosovo could raise foreign debt as an ex-Yugoslav federal unit), holding the opposite stance when dealing with the wealth of former Yugoslavia. After the declaration of independence, the same argument followed after the Republic of Kosovo joined International Monetary Fund, with Serbia giving up its debt responsibility.
Serbia already has a deep economic crisis, both because of inflation and major economic retraction. All its economic resources are at the stage of privatization, often sold at firefly prices to Russian businessmen in exchange of short-term political favors over Kosovo. This country, among other things, is facing a very low birthrate, many Serbian settlements are empty, while the number of young people are fleeing abroad due to lack of hope.
Unemployment, organized crime, high corruption, political instability and lack of prospect for the future are the main factors that are damaging the country. According to the prestigious Foreign Affairs magazine, Serbia is in the group of states "at risk" of collapse due to the economic situation, security situation, human rights violations etc.
A million of jobless Serbs are scattered across Serbia but also in many countries as refugees due to the consequences of the Serbian fascist policy against other ex-Yugoslav constituent entities.
Incidentally, results of the "concern" by Serbia government for the Serb minority in Kosovo are being seen as well. Loss of sound political reason and fostering of hate only brings disaster, self-destruction and nothing else. Not surprisingly this is convincing the Serb minority in Kosovo to join the new Republic's state institutions and integrate into the Kosovar society as equal citizens.
Serbia's last political and diplomatic straw is all about money as chance to survive from its failed state status in the Balkans. Serbia does not care about people, certainly not about Kosovo or Western Balkans which not long ago it tried to subjugate acting as a regional colonialist and an expansionist power.
Serbia's external debt is around $31 billion dollars, or about $4,000-5,000 per capita. Serbia is ranked among the countries most burdened by foreign debt.
A report by IZIT, a Serbian trade research institute, says that this plan is already on the table of Serbia's President Boris Tadic, which will be used at the end of this game. The debt of the former Yugoslavia before its destruction by Serbia's chauvinistic policies was about 22 billion dollars, but the beginning of a series of crises since 1990 saw it grow to 121 billion dollars. Serbia alone has over 31 billion dollars in debt. While Kosovo, as one of the constituent federal unit in the former Yugoslavia, had over a billion dollars in debt. At the request of Serbia, before declaration of Kosovo's independence, the World Bank forgave the debt of Kosovo in the amount of 550 million, because Serbian Government argued that Kosovo's debt is not Serbia's obligation (and Kosovo could raise foreign debt as an ex-Yugoslav federal unit), holding the opposite stance when dealing with the wealth of former Yugoslavia. After the declaration of independence, the same argument followed after the Republic of Kosovo joined International Monetary Fund, with Serbia giving up its debt responsibility.
Serbia already has a deep economic crisis, both because of inflation and major economic retraction. All its economic resources are at the stage of privatization, often sold at firefly prices to Russian businessmen in exchange of short-term political favors over Kosovo. This country, among other things, is facing a very low birthrate, many Serbian settlements are empty, while the number of young people are fleeing abroad due to lack of hope.
Unemployment, organized crime, high corruption, political instability and lack of prospect for the future are the main factors that are damaging the country. According to the prestigious Foreign Affairs magazine, Serbia is in the group of states "at risk" of collapse due to the economic situation, security situation, human rights violations etc.
A million of jobless Serbs are scattered across Serbia but also in many countries as refugees due to the consequences of the Serbian fascist policy against other ex-Yugoslav constituent entities.
Incidentally, results of the "concern" by Serbia government for the Serb minority in Kosovo are being seen as well. Loss of sound political reason and fostering of hate only brings disaster, self-destruction and nothing else. Not surprisingly this is convincing the Serb minority in Kosovo to join the new Republic's state institutions and integrate into the Kosovar society as equal citizens.
Serbia's last political and diplomatic straw is all about money as chance to survive from its failed state status in the Balkans. Serbia does not care about people, certainly not about Kosovo or Western Balkans which not long ago it tried to subjugate acting as a regional colonialist and an expansionist power.
Comments (3)
Ermal
said:
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... Although on the surface it may appear somewhat ridiculous, this is essentially a good idea. Serbia suffers from crippling debt obligations due to the terrible mismanagement of the economy during the Milosevic era. As long as economic hardship persists in Serbia, nationalism will be popular and nationalist-sympathizing leaders will be elected to office. We all know that this is currently the key obstacle not only for Kosova moving forward, but for the advancement and stability of the region as a whole. It might not be in the immediate interest for the countries to which the money is owed, but that money is as good as gone to the US and EU anyway. It is a catch-22 situation to expect a country with terrible economic infrastructure to pay off debt. It never works and only serves to keep the country from having a chance at recovery. If this idea is ever proposed, it should be embraced by all the neighboring countries of Serbia and it's debtors, this includes Kosova. This action would be the proverbial nail in the coffin for Vuk Jeremic's crusade to make Kosova's declaration of independence appear illegitimate, and will resolve the issue once and for all. Many Kosovar Albanians might not like the idea of giving Serbia this blank check, but the reality is that Serbia will be important to the development of Kosova for the forseeable future because of geography and politics. That is the inescapable truth, and Kosova cannot thrive easily in a atmosphere where it's neighboring countries are not thriving. |
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Liridon Byqmeti
said:
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... Nobody owes Serbia a dime. Serbia is facing the consequences of the mistreatment of its Citizens, by violating all human rights set from the council in Geneva. Therefore, international community does not need to repay Serbia, contrarily Serbia should pay for all the damages occurred in ex-Yugoslavian territories. The number of homeless people is enormous due to the war destruction, furthermore invalid, orphans should be taken care of by a fund provided by Serbia itself. I am not glad to see a failed state in Balkans, because it will effect the neighboring countries as well, however, international community, World Bank and IMF can give loans to pay loans to the Serbian Government. Simply put, extending the deadline. |
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