This paper deals with the essential problems of the current economic crisis in the European Union analyzed from the aspect of the core - periphery development model. In the first part of the paper theoretical concepts are presented for explanation the reasons for divergence in the economic development among regions. In the second part of the paper special attention is given to the real convergence among the selected EU member countries. Regarding this, the paper arises the dilemma thus the stabilization programs, will be successful recipe for solving the problems of the current crisis.
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