Impact of accessions on former soviet states to Western Institutions.
Impact of accessions on former soviet states to Western Institutions.
Q. With three former Soviet States accessioned to Western Institutions, what is the impact of the accessions in each of the cases?
1. Impact of Accession of 3 Baltic States of USSR.
- Former USSR (Union of Soviet Socialist Republics) states have merged with Western institutions.
- Three Baltic constituents-Estonia, Lithuania and Latvia are now allied to key Western bodies NATO, EU and Eurozone
- Former USSR states are keen on forging a European identity in direct challenge to Russia
2. What led the ex Soviet nations to this step?
USSR And the Warsaw Pact End, NATO Perseveres
- USSR or Union of Soviet Socialist Republics was a Marxist Leninist State that existed during the 1990s. There was a “Cold War” brewing between USSR and the Western states such as UK and US.
- Warsaw Pact of the Treaty of Friendship, Cooperation and Mutual Assistance was formed between the Central and Eastern European communist states in a regional economic grouping to rival NATO.
- NATO has survived as has EU and the eurozone. USSR has met its end and Russia now aims to align with the east and other nations.
- With active pursuance of the Look East policy, Baltic states now have the chance to align with Western powers and reap benefits.
3. Common Benefits of Choosing EU, NATO and Eurozone for Baltic States:
The ex-Warsaw pact nations are now staking their claim on EU and a European identity keeping in mind:
- Economic aspirations
- Geopolitical realities
- Russian control
- Regional realities such as the Ukraine crisis and the separatist conflict in Kiev
- Accession of other former Eastern bloc nations such as Slovenia and Slovakia to the NATO, EU and Eurozone.
- Flow of western investment and enhanced export potential
- Low borrowing cost through integration with the Western economies
4. How does Lithuania benefit from integration into EU and Eurozone?
- Lithuania would experience freedom from lock in effects of fixed exchange rates
- As litas was pegged to the euro, this would stabilise the region through the use of a common currency
- Euro entry deadline and greater political pragmatism are some of the challenges but Lithuania is more than compensated through greater investment and borrowing capabilities
- Lithuania dairy market and other goods will find a new outlet since the collapse of the rouble
- Using the euro will also eliminate money changing costs and develop new markets in the Western world
- New currency will also give a measure of geopolitical security because Lithuania is now member of the EU, NATO and Eurozone as well.
- Euro will also give this nation more room to negotiate with other nations
- Low interest rates and Euro grouping are other benefits of this latest integration into Eurozone
5. Impact of Estonia’s Accession to NATO
- Estonia joined NATO in March 2004. NATO membership was beneficial for this Baltic state because:
- Security and defence is facilitated through international security cooperation
- NATO membership also ensures reliable military deterrence and collective defence as well
- Mobile and sustainable armed forces also assist in peacekeeping and serve to meet the problems cropping up in the international security environment
6. How Does The Baltic Accession Benefit Latvia?
Latvia has joined the eurozone becoming the 18th member of the EU states that use EU as their currency in 2014. Now the country has taken over the presidency of the EU Council with effect from January 1st, 2015, working on :
- Competitive Europe
- Digital Europe
- Engaged Europe
The nation is at the helm of things and it is emerging from being a finance crisis ridden Soviet state to one of EU’s top growing economies because:
- Euro also attracts foreign investors by improving Latvia’s credit rating
- Euro also brings stability and certainly
- It creates new jobs and attracts investments
7. Future of Baltic Nations That Accessed to Western Powers
Keeping the current geopolitical realities in mind, the former Soviet states are experiencing:
- Better economic growth
- Enhanced peace and security
- Effective peacekeeping
- Security
- Greater investments
- More jobs
- Greater markets for their goods
- Enhanced advantages of EU membership such as common collective currency and EU identity
Conclusion
With Grexit (Greek’s exit from the EU) on the scene and the Independence movement threatening the future of the EU, this could well be the way out for the Union to survive and flourish in the face of the Russian challenge. The Baltic states will also clearly benefit from this integration.
