The Balkans Truce So what sort of peace will it be?: Reconstruction - Fresh start will cost billions
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.STANDING OUTSIDE Cologne's large, Gothic cathedral, the incoming president of the European Commission, Romano Prodi, used a TV interview to put a multi-billion pound price tag on ambitious new plans to rebuild the Balkans.
As European leaders moved swiftly to shore up the peace deal struck with President Milosevic with promises of aid, Mr Prodi estimated the cost of reconstruction of the region.The sums involved will, he told CNN, be "enormous", putting his estimated figures at 5bn-6bn euros (pounds 3.3bn- pounds 3.9bn) a year for five years, or the equivalent of 2 per cent of the EU's gross domestic product.
The figures provided by the former Italian premier imply a total spending of up to 30bn euros although it was unclear whether this would simply be Europe's contribution.
One point that was hammered home by Tony Blair is that the money will not be destined for Belgrade while President Milosevic is in charge. In an appeal to the Serb people, he said: "You have a dictator in charge, an indicted war criminal as your leader. You cannot expect to be part of the reconstruction of the Balkans while that remains so."
At their summit in Cologne, EU heads of government agreed to set up a new agency which would coordinate European aid efforts to the region.The agency will be autonomous and will work with other international institutions, including the World Bank.
It emerged yesterday that the EU now envisages three prominent figures overseeing the reconstruction of the Balkans. The current EU representative in Bosnia, Carlos Westerndorp, may step down this month, if he is elected to the European Parliament, and will be replaced. In addition there will be a special co-ordinator for the "stability pact", and a special representative for Kosovo. This will probably include responsibility for co-ordinating the UN, EU, Nato, and the the Organisation for Security and Co-operation in Europe.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments