The Magyar Nemzeti Bank (MNB) and the Oesterreichische Nationalbank (OeNB) held a joint workshop on 11th April 2025 focusing on the complexities of EU integration, examining recent developments in the Western Balkans. The event, titled „On the bumpy road of European integration: recent developments in the Western Balkans” brought together experts from across Europe. Participants included experts from the Hungarian, Austrian and Western Balkan central banks, the European Central Bank, and from commercial banks and think-tanks active in the region. The participants engaged in deep discussions and knowledge exchange on the challenges and opportunities of the region’s EU integration process.
The topic is of particular importance for both countries, as Hungary and Austria have strong economic and financial ties with the region. Furthermore, the EU integration of the Western Balkan countries was among the priorities of the Hungarian Presidency of the Council of the European Union. The interactive event provided insights into the current developments and opportunities of the Western Balkans’ EU integration, pointing to reform needs on both, the side of the accession countries and the EU. The speakers drew particular attention to the importance of efficient regulation, supporting innovation, setting clear targets and fostering convergence with EU standards.
The workshop started with opening speeches by Mr. Gergely Baksay, Executive Director of the Magyar Nemzeti Bank and Ms. Birgit Niessner, Director of the Oesterreichische Nationalbank. After the opening remarks the keynote speech was held by Ms. Éva Katalin Polgár, head of section at the European Central Bank, who emphasized the need to speed up the accession process. Following the opening speeches, three panel discussions were held. The first panel focused on payment systems, with central bankers and market experts discussing the future of institutional infrastructure and electronic payment options. The speakers mainly discussed how the development of payment infrastructure can increase economic stability and contribute to the convergence of the Western Balkan region. The second panel discussed the geopolitical importance of the region and the possibilities of how trade and foreign direct investment inflow can foster economic growth. The panelists put into perspective the importance of EU funds compared to the footprint of other global players in the region. In the third panel, speakers discussed the main challenges on the path to EU membership, covering the details of the EU funded Reform and Growth Facility for the Western Balkans and highlighting the need for commitment and flexibility.
This joint MNB-OeNB workshop serves as an example of ongoing efforts to foster cooperation and contribute to the advancement of European integration in the Western Balkans. The workshop reinforced the message that sustained commitment, comprehensive reforms and continuous EU support are crucial for the EU accession of the Western Balkan states.