President Milanović: Europe is Rich and Developed, but Lags as a Global Player
“Today, Europe is clearly lagging behind as a global player, and it is unlikely that it will ever reclaim that role. Europe remains wealthy and developed, and life there is good – but demographically, in terms of population renewal, it has undoubtedly entered a serious crisis,” said President Zoran Milanović today at the opening of the 15th FEBST International Conference titled “Economic Policies, Business Perspectives, and Sustainability Transformation.”
Speaking about Europe’s current state, President Milanović explained that while he views Europe through the lens of shared values, he primarily considers it from the perspective of Croatian national interests. “That interest still aligns with what Europe currently represents. But Europe has structural flaws – it suffers from imbalances that ultimately make it unworkable. Its fiscal policy, its foreign policy – none of it can function as it does in real nation-states composed of political nations,” the President said in his address.
“We are being pushed to spend five percent of our GDP on defense. Croatia’s nominal GDP is nearly 100 billion dollars, so five percent of that is five billion. Right now, we claim to be approaching the two percent target, but in reality, we’re spending about 1.3 billion euros. That’s still not two percent – but it’s more than ever before,” he noted, emphasizing that what matters more is what that money can buy. “How much can we strengthen our security and defense? How can we protect our natural right to exist and to remain independent? These are the questions that today’s political leadership must address,” the President added.
He concluded by wishing the conference participants and the University of Split – this year’s host – much success in their work. He also encouraged the University to be mindful of its position in international rankings, saying those rankings carry meaning. “They show that a country with a very high nominal GDP cannot be a place where people live poorly. If you’re ranked highly, it shows that you’re doing good work and helping to reshape the perception of a region that’s too often and unfairly seen as one that relies on short-term, seasonal economic rents. That is not a good image – change it. And as your patron, I support you wholeheartedly in doing so,” President Milanović concluded.
The FEBST International Conference has been held regularly since 1995, bringing together over 2,200 authors with more than 1,700 papers from over 60 countries. It serves as a platform for dialogue among leading global scholars and experts, promoting the exchange of knowledge and innovation. This year’s 15th edition of the conference is organized by the Faculty of Economics, Business and Tourism of the University of Split, and held under the patronage of the President of the Republic.
In addition to President Milanović, opening remarks were also delivered by the Chair of the Conference Programme Committee, Prof. Dr. Ana Kundid Novokmet; Hana Huzjak, Senior Economic Advisor at the European Commission Representation in Croatia; and Stipe Čogelja, Deputy Prefect of Split-Dalmatia County.
President Milanović was accompanied by Velibor Mačkić, Special Adviser to the President of the Republic for the Economy.
PHOTO: Office of the President of the Republic of Croatia / Filip Glas