The collapse of Yugoslavia in the 1990s is often remembered as one of the great geopolitical disintegrations of the late 20th century—an empire of six republics and two autonomous regions that broke apart under the weight of debt, corruption, and suppressed ethnic rivalries.
Yugoslavia appeared stable to the outside world right up until it wasn’t. The country was hailed as a model of socialist prosperity, with free healthcare, jobs for all, and a booming economy. Yet beneath the surface, its foundation rested on unsustainable borrowing. When the debt ran out, the federation quickly splintered into its national parts—Slovenia, Croatia, Bosnia, Macedonia, Montenegro, and Serbia. What once seemed impossible became inevitable.
