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Protracted crisis in the European Union has substantially augmented lingering euro-skepticism on the continent. Member-countries are desperate to restore the legitimacy of the organization, while descending perceptions about values of the EU integration model among candidates and would be members are real. Inward-looking EU is less engaged in imposing conditionality which has been for more than a decade a main instrument in exporting democracy. With the EU gravitational effects largely absent, nationalistic and populist sentiments are gaining ground in some parts of the Western Balkans, advocating alternatives to European integration as a regional gate to globalization. What does the past record of several Eurasian regional organizations imply about their potential to serve as sustainable alternatives to the European Union? Can the regional trends in the wider Euro-Asian area eventually open up alternative perspectives for some of the Western Balkan countries trailing back on their European path? In this article, the performances of a few regional organizations in Eurasia in several domains will be analyzed applying the comparative method. The aim of the paper is to depict a different genesis and civilizational background and emphasize structural flaws and comparative weaknesses of these organizations to the European Union, especially in the area of political and cultural values underpinning their engagement. [ABSTRACT FROM AUTHOR]

The contemporary European Union is a decentralized community. The Union's regional policy has a long tradition, which is shaped by common EU legislation. EU regional policy is primarily directed towards overcoming disparities in the economic development of various regions, which has a strong impact on the equalization of the whole EU. Funding for the development of various regions has been constantly increasing. In 2006-2013, 347 billion Euros were allocated to the various regions. EU policy is very dynamic and it is being continuously upgraded. Since enlargement in 2004 and 2007, the transformation of regional policy has become unavoidable because the economic disparities have significantly deepened. Bigger disparities have caused the need for changes in EU regional policy legislation. Most recently, in December 2014, a package of new legislation was adopted, with which a new legal framework was established. It is aimed at providing for a more efficient and effective management of the ERDF, ESF and CH. The new legislation is faced with the numerous of challenges. The goal has been to produce a further simplification of procedures related to regional policy, to strengthen the links of all regional projects with energy efficiency and environmental matters and to enable a more comprehensive use of the economic potential of various regions. This will require stronger cooperation between the EU, the member states, and the regions. The main aim of this chapter is to analyze the new EU regional policy legislation and to highlight its future challenges and perspectives. The paper also includes a SWOT analysis of the potential for the implementation of the new legislation, so as to determine the obstacles and potential for the further strengthening of regional policy. This paper also aims at initializing a wider debate about the future perspectives of this legislation. [ABSTRACT FROM AUTHOR]