Albania-
Andorra-
Bosnia and Herzegovina-
Croatia-
Greece-
Italy-
The Former Yugoslav Republic of Macedonia-
Malta-
Montenegro-
Portugal-
San Marino-
Serbia-
Slovenia-
Spain-
1. Albania
3. Bosnia and Herzegovina
4. Croatia
5. Greece
6. Italy
7. Malta
8. Montenegro
9. Portugal
10. San Marino
11. Serbia
12. Slovenia
13. Spain
14. The former Yugoslav Republic of Macedonia
In this region, most countries are MDC countries such as Spain, Slovenia, Greece, and Italy. Many of these countries have a high percentage of tertiary sector jobs most of them at or above 50 %, and a low percentage of primary sector jobs most of them less than 15%. The countries in this region tend to have free enterprise or market economies. The majority of these countries have very high GDPs that are in the high billions or the low trillions with some exceptions such as Andorra with a GDP of $3.163 billion. The HDI of the MDC countries are usually above 30°, and the NIC countries are usually above 80°.
- Imports- Refined Petroleum and Cars
- Exports-Crude Petroleum and Leather Footwear
Andorra-
- Imports- Refined Petroleum and iron ore
- Exports- Refined Petroleum and cars
Bosnia and Herzegovina-
- Imports-Refined Petroleum and Crude Petroleum
- Exports- Seats and Leather Footwear
Croatia-
- Imports- Refined Petroleum and Crude Petroleum
- Exports- Refined Petroleum and Packaged Medicaments
Greece-
- Imports- Refined Petroleum and Crude Petroleum
- Exports- Refined Petroleum and Packaged Medicaments
Italy-
- Imports-Cars and Crude Petroleum
- Exports- Refined Petroleum and Packaged Medicaments
The Former Yugoslav Republic of Macedonia-
- Imports-Platinum and Refined Petroleum
- Exports- Reaction and Catalytic Products and Centrifuges
Malta-
- Imports- Refined Petroleum and Passenger and Cargo Ships
- Exports- Refined Petroleum and Integrated Circuits
Montenegro-
- Imports- Refined Petroleum and Pig Meat
- Exports- Raw Aluminium and Recreational Boats
Portugal-
- Imports- Crude Petroleum and Cars
- Exports- Refined Petroleum and Cars
San Marino-
- Imports- Coated Flat-Rolled Iron and Petroleum Gas
- Exports- Washing and Bottling Machines and Woodworking machines
Serbia-
- Imports- Vehicle Parts and Crude Petroleum
- Exports- Insulated Wire and Cars
Slovenia-
- Imports- Cars and Refined Petroleum
- Exports- Packaged Medicaments and Cars
Spain-
- Imports- Crude Petroleum and Cars
- Exports- Cars and Refined Petroleum
1. Albania
- Open-market economy
- 85°
- $32.65 billion
- NIC
- Primary sector- 41.8%, Secondary sector- 11.4%, Tertiary sector- 46.8%
- Free enterprise economy
- 34°
- $3.163 billion
- MDC
- Primary sector- 0.4%, Secondary sector- 4.7%, Tertiary sector- 94.9%
3. Bosnia and Herzegovina
- Transitional economy
- 85°
- $40.53 billion
- NIC
- Primary sector- 19%, Secondary sector- 30% Tertiary sector- 51%
4. Croatia
- Open market economy
- 47°
- 91.1 billion
- MDC
- Primary sector- 1.9%, Secondary sector- 27.6%, Tertiary sector- 70.4%
5. Greece
- Capitalist
- 29°
- $286 billion
- MDC
- Primary sector- 12.6%, Secondary sector- 15%, Tertiary sector- 72.4%
6. Italy
- Free enterprise economy
- 27°
- $2.171 trillion
- MDC
- Primary sector- 3.9%, Secondary sector- 28.3%, Tertiary sector- 67.8%
7. Malta
- Free enterprise economy
- 37°
- $15.38 billion
- $35,900
- MDC
- Primary sector- 1.7%, Secondary sector- 18.3%, Tertiary sector- 80%
8. Montenegro
- Market economy
- 49°
- $10.04 billion
- NIC
- Primary sector- 5.3%, Secondary sector- 17.9%, Tertiary sector- 76.8%
9. Portugal
- Service-based economy
- 43°
- $289.8 billion
- MDC
- Primary sector- 8.6%, Secondary sector- 23.9%, Tertiary sector- 67.5%
10. San Marino
- Free enterprise economy
- N/A
- $1.982 billion
- MDC
- Primary sector- 0.2%, Secondary sector- 33.5%, Tertiary sector- 66.3%
11. Serbia
- Generally market economy
- 66°
- $97.5 billion
- NIC
- Primary sector- 21.9%, Secondary sector- 15.6%, Tertiary sector- 62.5%
12. Slovenia
- Free enterprise economy
- 25°
- $63.96 billion
- MDC
- Primary sector- 8.3%, Secondary sector- 30.8%, Tertiary sector- 60.9%
13. Spain
- Free enterprise economy
- 26°
- $1.615 trillion
- MDC
- Primary sector- 4.2%, Sector sector- 24%, Tertiary sector- 71.7%
14. The former Yugoslav Republic of Macedonia
- Free enterprise economy
- 81°
- $29.04 billion
- NIC
- Primary sector- 18.3%, Secondary sector- 29.1%, Tertiary sector- 52.6%
In this region, most countries are MDC countries such as Spain, Slovenia, Greece, and Italy. Many of these countries have a high percentage of tertiary sector jobs most of them at or above 50 %, and a low percentage of primary sector jobs most of them less than 15%. The countries in this region tend to have free enterprise or market economies. The majority of these countries have very high GDPs that are in the high billions or the low trillions with some exceptions such as Andorra with a GDP of $3.163 billion. The HDI of the MDC countries are usually above 30°, and the NIC countries are usually above 80°.
Maintaining political presence in the European Union has left a great effect upon the countries involved, especially the countries in Southern Europe which saw a major impact upon their geopolitical and socioeconomic relations. Primarily, the role of the European Union for many Southern European countries like Portugal and Spain was to provide an outlook of economic surplus. Not does the presence of the European Union drastically increase trade opportunities and overall GDP levels (such as by 98% for Spain), but also allows fiscal policy that usually commends economic success by proposing budgets and veritable loan offers. Yet the flip side of the European Union is evident when looking at countries such as Greece, a country which borrowed significant amounts of money from European Union members. As soon as the interest rates upon these European Union countries reached higher climbing values, Southern European countries like Spain and Greece have been forced to declare bankruptcy or carry out bank bailouts. The interdependence of the European has lead to significant benefits, but also often a faulty interconnected system.
“Entry to the EC has brought many benefits to both countries. In twenty years Portugal and Spain have successfully turned around the unfavorable conditions of the accession treaties (particularly for Spain). EU membership has improved the access of both countries to the European common policies and the EU budget. At the same time Portugal and Spain’s trade with the Community has expanded dramatically over the past fifteen years, and foreign investment has flooded in. One of the main consequences of these developments has been a reduction in the economic differentials that separated each country from the European average. Since 1986, Portugal’s average per capita income has grown from 56 percent of the EU average to about 73 percent, while Spain’s has grown to 98 percent. The culmination of this process was the participation of both countries as original founders of European Monetary Union in 1999.”
https://www.cairn.info/revue-pole-sud-2007-1-page-19.htm
“A new financial crisis is brewing in Europe, one that will prove as devastating as the last economic crisis. This one will also be centered in southern Europe—only this time, instead of the sovereign debt of the region’s governments, it will involve the commercial banking sector. The last European financial crisis was triggered by sharply escalating interest rates on the government bonds of the EU’s southern members: Greece, Cyprus, Italy, Spain and Portugal. Ireland, at the other end of the EU, was also included. Those countries debt levels were increasingly seen as unsupportable, given their deteriorating economies, raising fears of a default. Given that much of this government debt was held by European banks, a default by one or more countries threatened the stability of Europe’s entire banking sector. The EU responded to the crisis by implementing a series of financial support mechanisms, such as the European Financial Stability Fund and the European Stability Mechanism, to provide emergency loans to those countries most affected by skyrocketing interest rates. The European Central Bank also acted to lower interest rates, in some cases by buying government bonds and private debt, and providing low interest loans of more than one trillion euros to ensure the liquidity of Europe’s banking sector.”
http://www.huffingtonpost.com/joseph-v-micallef/europes-next-financial-cr_b_10315364.html
“Entry to the EC has brought many benefits to both countries. In twenty years Portugal and Spain have successfully turned around the unfavorable conditions of the accession treaties (particularly for Spain). EU membership has improved the access of both countries to the European common policies and the EU budget. At the same time Portugal and Spain’s trade with the Community has expanded dramatically over the past fifteen years, and foreign investment has flooded in. One of the main consequences of these developments has been a reduction in the economic differentials that separated each country from the European average. Since 1986, Portugal’s average per capita income has grown from 56 percent of the EU average to about 73 percent, while Spain’s has grown to 98 percent. The culmination of this process was the participation of both countries as original founders of European Monetary Union in 1999.”
https://www.cairn.info/revue-pole-sud-2007-1-page-19.htm
“A new financial crisis is brewing in Europe, one that will prove as devastating as the last economic crisis. This one will also be centered in southern Europe—only this time, instead of the sovereign debt of the region’s governments, it will involve the commercial banking sector. The last European financial crisis was triggered by sharply escalating interest rates on the government bonds of the EU’s southern members: Greece, Cyprus, Italy, Spain and Portugal. Ireland, at the other end of the EU, was also included. Those countries debt levels were increasingly seen as unsupportable, given their deteriorating economies, raising fears of a default. Given that much of this government debt was held by European banks, a default by one or more countries threatened the stability of Europe’s entire banking sector. The EU responded to the crisis by implementing a series of financial support mechanisms, such as the European Financial Stability Fund and the European Stability Mechanism, to provide emergency loans to those countries most affected by skyrocketing interest rates. The European Central Bank also acted to lower interest rates, in some cases by buying government bonds and private debt, and providing low interest loans of more than one trillion euros to ensure the liquidity of Europe’s banking sector.”
http://www.huffingtonpost.com/joseph-v-micallef/europes-next-financial-cr_b_10315364.html