Here I come, the Economist

Ante scriptum, I wish to inform you that I, currently, am not holding documentation allowing me to work in the UK, for my residence within Europe unfortunately is not within the European Union. I'm pursuing an endorsed working visa for work and research. If that's an issue, I'd like to sincerely apologize and you most certainly should disregard this mail. You don't have to waste your time reading this application.

21 years ago, by signing the Dayton peace accord, the most vile and lethal european conflict since the WWII has come to an end. The yugoslavian war has come to an end. The same accord has shaped the legal system of Bosnia and Herzegovina, the most complex multiethnic entity in the region, in such a way that it provided peace and prosperity on one side, but also causing issues such as limiting its economic growth potential, expanding the administrative bureaucracy and initiating continuous aversion and hate among the constitutional ethnicities. Two decades ago, we had the most unique socialist state with stable GDP growth and impressive exports crumbling to pieces with the rise of nationalism and violence. Today, we have Bosnia, in the very heart of ex-Yugoslavia, a country with the most graduates per capita in the southeastern Europe, experiencing an outstanding unemployment with up to 45%. A country in which 34% of the disposable income is spent on food and necessities, and additional 16% to cigarettes and alcohol. Observing this chronologically, it's quite transparent that the imposed policies have only made thing worse in the long run. What happened, how to change it, and how does it affect the rest of Europe?

Due to its complexity, it's only possible to briefly expose the functioning of BiH. It's composed out of 2 entities, the Federation of BiH (with Croats and Bosniaks as a majority) and Republika Srpska (Serb majority). There's also a small District of Brčko. Furthermore, the FBiH contains 10 cantons, which are divided into municipalities, whereas the RS is composed of just municipalities. There are authorities at the state, entity, canton and municipality level. The bureaucratic confusion has caused the existence of 260 ministers (with the country's 3.5 mil population), dozens of parliaments and similar administration. Half of BiH's GDP goes to financing the administration, whereas the EU's average is 10%. This is the main economic issue of this worrisome country and EU, as its mentor and endorser, should initiate the structural changes in this weak economy with an impressive potential.

For instance, in the socialist Yugoslavia, Slovenia and BiH were the only “republics” with a positive net export. Slovenia had a central-european work ethics and good connections with Italy, Austria and Germany. Bosnia had an engineering giant, Energoinvest, involved in projects in Eritrea, Ethiopia, Libya, Egypt and the rest of northern Africa. Nevertheless, the most efficient financial sector at that time was concentrated in BiH, and the domestic banks often accompanied Energoinvest's foreign engineering projects with financial coverage. “It was the golden age of banking in the region” – you might hear from the more experienced local bankers and analysts. Today, Slovenia is emancipated and both economically and socially successful part of Europe – and Bosnia is where it is In the late 2000's, the Ministry of foreign affairs of Kingdom of Denmark has decided to invest ‎€50 bil. into renewable energy of BiH. Its plentiful rivers, windy mountains and sunny plains are perfect for such businesses. However, the complex administration accompanied with ethnic disagreements has caused the investors to flee.

How many times will the Dayton accord, though indirectly, cause withdrawals of business ventures, economic prosperity and growth of the region, specifically Bosnia and Herzegovina? A stable country, geographically almost within the Schengen area, is in interest for all the other european members and potential investors. Bosnia's openness to profits in various sectors and industries may play a large factor in the growth of the European Union itself. Dear Europe, you want to help us, as well as yourselves? Do something about this awful setback that we call the Dayton peace accord.