Economic Security in the Black Sea Region

Berry Buzan and the Copenhagen School proposed three new dimensions of security in order to complete it’s the narrow political and military components. These are the economic, societal and environmental dimensions. The result is that economic factor came to be considered the building block of the other aspects of security. This idea is supported by NATO’s new strategic concept (defined in 1991) stating that security and stability have political, economic, societal and environmental elements; and also by the EU’s efforts of building the Common Foreign and Security Policy, were it applies economics, its strongest points, in the military security, one of its weakest points. Ensuring a country’s economic security considers the identification and management of dysfunctions, vulnerabilities, risks and threats to economic stability and strategic decisions independence concerning vital resources. The paper will attempt to analyze the implications of applying the concept of economic security in the Black Sea extend area and highlight the link between the development model and interdependencies in international cooperation.