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Wednesday, December 18, 2019

The E.U. as Peace-Maker: Bringing in Serbia and Kosovo

Serbia and Kosovo reached an agreement on April 19, 2013 bearing on how much autonomy Kosovo would allow Serb cities in return Serbia’s recognition of Kosovo’s remaining authority in the cities.[1] Kosovo had seceded from Serbia in 2008, and the ensuing conflict kept both states from joining the European Union. As it turned out, the prospect of accession gave both Serbia and Kosovo enough incentive to reach an agreement. Indeed, only a few days after the agreement had been reached, the governments of Serbia and Kosovo approved it. Such swiftness indicates how strong of an incentive accession can be for belligerent republics in Europe. The E.U.’s deployment of this “carrot” is fully in line with the main objective of the European Union: to prevent war in Europe. According to the New York Times, the accord is thus “an important victory” for the E.U.[2] An even further victory in line with the E.U.'s most important purposes would be to internalize both Serbia and Kosovo so any future interstate conflicts could be peacibly resolved. 

The full essay is at "The E.U. as Peace-Maker."

1. Dan Bilefsky, “Serbia and Kosovo Reach Agreement on Power-Sharing,” The New York Times, April 20, 2013.
2. Ibid.

Monday, December 16, 2019

The British Pound Reacts to Secession

When the E.U. state of Britain held a vote in 2016 on whether to secede from the union, the British currency plummeted. On the day of the December 2019 statewide election in the U.K., that currency initially jumped and held on the day after as official results confirmed that the conservatives had won a majority and thus would be able to see the secession through. I submit that uncertainty itself was a major factor in both swings, and that the market put too much emphasis on the matter of uncertainty at the expense of the substantive economic effects of secession.

The full essay is at "The British Pound and Secession."