Srbska indeed IS preparing a referendum. If Serbia gives up on EU integrations because most of EU countries support(ed) Kosovo independence, the Bosnian Serbs will most probably attempt to do the same for Bosnia and Herzegovina. In the end, BH might be put in the same situation as Cyprus, as only the Federation gets integrated while its other entity, Srbska, remains out.
Another worrying thing is remilitarization on behalf of Russia, as well as some very troubling concerns regarding Transnistria, Abkhazia and South Ossettia.
Serbia faces yet another crossroads. The national-conservative patriots are now greatly strengthened in Serbia, and they might win the forthcoming election, ready to form a government. This might lead Serbia into not only isolation, but could damage the entire touchy region, as well as produce territorial claims upon the Serbian western neighbor. The social-liberal democratic forces governing since 2000 might face their doom.
Violence in Serb-populated North Kosovo is now a regular thing. The UNMIK attempts to seize control over it, but the Serbs resist. The Serbs are in despair, the Kosovo Albanians are closing the borders to Serbia, cutting off their medical supplies and, being out of financial sources, are running out of their very limited resources in general. They are facing a humanitarian catastrophe in Kosovo, just as some other minorities. Most now think that the only remaining option is that all 200,000 of them pack up and leave for Serbia proper. WHAT will come out of this?