The contemporary international economic environment is characterised by the globalisation process of national and regional market places. The countries in transition are not immune to this process. Transition by its effects is a process of implementing globalisation in countries emerging from socialism and communist paradigm according to the concept of the Washington Consensus. However, the transition in most post-socialist countries has been theoretically under-designed concept, insisting on rapid privatization and unquestionable. Privatisations in Bosnia and Herzegovina and Serbia have been supported by global financial institutions, the World Bank and the IMF under the conditions and programs of measures of these institutions that are being implemented. The price of privatisation, which no one seriously discusses in the analysed countries, expenses are paid by workers and consumers. Privatisation more often closes jobs than it creates new. Laid-off workers do not become public expense, because there is no proper system of insurance in the case of unemployment. Thus, the economic policy of countries in transition is not a matter of national state, but a program of measures and conditions of global financial institutions, the IMF, the World Bank and the EU institutions, ordered to transitional countries. However, the dilemma stands whether to leave to elites in countries in transition to make development programs or to follow the global institutions and their projects, including the EU. What is a valid option? The European Union, after Brexit has been in the crisis and intense scrutiny with regard to the internal organisation and relations among members, position and power in international relations after the presidential election in the United States and the vulnerability of the European system of values additionally emphasised by migrant crisis. The question is whether the EU can reconcile their differences, and not to cancel them, in order to be attractive for countries in transition, which in the light of the new geopolitics must seek their own place.

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