EuroEconomica, Vol 33, No 2 (2014)

Abstract

The aim of this paper is to assess the degree of relative convergence achieved by Albania in relation to the EU during the last decade through a descriptive empirical analysis. The paper is divided into three sections related to real and nominal convergence in the fields of economic performance; trade openness and balance; and monetary convergence, according to the Euro criteria established in the art. 140 (1) of the TFEU and the protocol Nº 13 (price stability, public finances, exchange rate, and long-term interest rates). In order to have a wide perspective about convergence-divergence trends inside and outside the EU, the tendencies followed by Germany and Greece are also mentioned, as paradigmatic cases of divergence within the EU. Finally, a summary table is presented reviewing each of the analysed variables regarding the last decade evolution and the current situation.