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Igor Lukšić, former Prime Minister and Minister of Finance of Montenegro, delivered a lecture on the economic situation of the Western Balkans and the extent to which the region is prepared for accession to the European Union. Lukšić, who last visited Budapest in an official capacity during his tenure as foreign minister, opened his presentation with a brief chronological overview of the EU integration process of the Western Balkans.
He highlighted the importance of the 2003 Thessaloniki Summit, where the European Union demonstrated a clear political commitment to the European perspective of the Western Balkan countries. He then underlined the role of the Stabilisation and Association Agreement as the first legally binding step in the accession process.
Lukšić went on to outline three pragmatic dimensions of EU accession that align with the Copenhagen criteria: economic conditions, political criteria, and the adoption and implementation of the EU acquis. According to him, these dimensions remain the core benchmarks against which candidate countries are assessed.
He also noted that the EU’s enlargement policy has undergone significant changes over the past decade. The tightening of conditions became more pronounced after Croatia’s accession in 2013 and intensified further in 2019 following an initiative by France. Lukšić added that the war between Russia and Ukraine has also reshaped the EU’s enlargement narrative, increasing the strategic relevance of the process.
While reaffirming Montenegro’s clear commitment to EU membership, Lukšić acknowledged that opinions differ regarding the readiness of Western Balkan countries. Some argue that the region is prepared for accession, while others remain sceptical. In his view, however, broader political and economic considerations suggest that prolonging the accession process is counterproductive. He described it as an illusion to expect that the preparatory phase alone could elevate these countries to the EU average, stressing that real convergence meaningfully begins with membership itself.
After outlining the broader framework, Lukšić presented a detailed analysis of key economic indicators. On the positive side, he noted that the aggregate public debt of Western Balkan countries remains below the EU average. At the same time, he pointed to several structural weaknesses, including a heavy reliance on public investment, underdeveloped and fragmented infrastructure, a narrow banking sector, limited financial instruments, and the marginal role of stock market activity.
In closing, Lukšić addressed challenges facing the European Union as a whole. He argued that the EU is struggling with competitiveness issues and that its enlargement policy has increasingly taken on a bilateral character, citing the dispute between Bulgaria and North Macedonia as an example. Responding to a question on the introduction of the euro, he emphasised that while adopting the single currency is a demanding step, it remains a key instrument of integration that brings countries closer to the European Union.
