For six weeks now, Serbia has been rattled by what purports to be a student rebellion, leading to the prime minister’s resignation last week and rumors of a snap election. Students from sixty-three colleges of five state and two private universities, as well as four high schools, have emerged as the biggest challenge to the Progressive Party rule—and fueled rumors of yet another “color revolution.” On Thursday, thousands of students rallied in the capital, Belgrade, and set out to Novi Sad—the second-largest city in Serbia and the site of a tragedy that has served as the trigger for the entire crisis. The concrete canopy of the Novi Sad railway station, built in 1964 but recently renovated as part of a bullet-train project, collapsed on November 1 and killed fifteen people. Serbia is the largest of the six successor states of the former Yugoslavia (Kosovo, a breakaway Serbian province that the United States and its allies consider the seventh, doesn’t count). Belgrade has no intent of joining NATO, which bombed Serbia in 1999 to occupy and detach Kosovo, and officially aspires to join the European Union—but has so far refused to go along with the bloc’s sanctions regime against Russia. All of this has obviously made Serbia a place of considerable interest to Moscow, Beijing, Brussels and Washington alike. President Aleksandar Vucic has managed to parlay his balancing diplomacy into a flow of infrastructure and industrial investments, such as the high-speed train project to the Hungarian border.