The European Neighbourhood Policy and the South Mediterranean countries: Economic and Financial Aspects

Abstract

The article deals with the European Neighbourhood Policy (ENP) that was developed with the objective of avoiding the emergence of new dividing lines between the enlarged EU and our neighbours and instead strengthening the prosperity, stability and security of all concerned. A special attention is given to the South Mediterranean countries, given that the PEV will contribute greatly to improving the economic performance in the South of Italy. Since the ENP builds upon agreements between the EU and the partner in question (Partnership and Cooperation Agreements, or Association Agreements in the framework of the Euro-Mediterranean Partnership), in this article the ENP is investigated with respect to the Euro-Mediterranean Partnership or Barcelona Process in order to set out in concrete terms how the EU may implement these policies in term of economic resources. From this analysis emerges that the funding available to support the ENP reform agenda will still be relatively modest, notwithstanding the ENP's ambition to address a very comprehensive reform agenda. It is therefore essential to maximise the impact and the leverage of EU funding seeking synergies between ENPI (European Neighbourhood and Partnership Instrument) and other EU financial instruments.