EU enlargement back in the spotlight

Summary

Since its foundation, the European Union has grown from 6 founding countries to 27 members, and its population has expanded from around 170 million to around 450 million. After a prolonged period without new accessions, discussions about a next enlargement round are gaining momentum. New accessions would provide the chance to spur convergence, stability and prosperity in Europe and strengthen the EU’s geopolitical position. But enlargement also comes with challenges and raises concerns among the people living in the EU-27. This OeNB Policy Brief aims to address these issues by explaining the current state of affairs, introducing the candidates for accession and assessing the impact of further EU enlargement.

Highlights

Montenegro aims to become the 28th EU member in 2028
Accession negotiations with Montenegro are advancing, legal and institutional reforms have progressed. It is now key that reforms are implemented properly.

A larger EU brings advantages
Both EU newcomers and longstanding members generally benefit from an enlarged Union. Key advantages include access to larger markets, increased financial support for the acceding countries and strengthened geopolitical leverage for Europe.

Enlargement raises concerns that must be addressed
People are mainly worried about the financial costs of EU enlargement, employment effects, migration and increasing disparities in a larger EU. These concerns must be taken seriously. Some stem from insufficient information, others require transitory arrangements or consideration in EU-wide policy making.