Emerging from Crisis: the Mediterranean Neighborhood

"The financial crisis engulfed the entire world economy, but the impact was uneven across many regions and countries. Due to a lower degree of financial integration, many developing countries seem to have been far less affected. This apparent resilience has been observed among several of the EU's Mediterranean (MED) neighborhood countries. 

However, the region's underdeveloped financial markets may yet prove to be a long-term economic curse."